The graph shown displays the cost and revenue curves associated with a monopolistically competitive firm.
If the firm is producing Q1 and charging P3, this graph likely shows the firm's cost and revenue curves in the:
A) short run, and firms will enter this market.
B) long run, and firms will enter this market.
C) short run, and firms will leave this market.
D) long run, and no firms will enter or exit this market.
Correct Answer:
Verified
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