Question: Consider the following graph: a. Is it possible to say whether this firm is a perfectly competitive firm or a monopolistically competitive firm? If so,

Consider the following graph:

a. Is it possible to say whether this firm is a perfectly competitive firm or a monopolistically competitive firm? If so, explain how you are able to make this determination.
b. Does the graph show a short-run equilibrium or a long-run equilibrium? Briefly explain.
c. What quantity on the graph represents long-run equilibrium if the firm is perfectly competitive?

Price | (dollars per burrito) $10.00 MC ATC Demand 4 5 6 7 8 9 10 Quantity (burritos per week) 0 1 2 MR

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