A monopolistic competitive firm ______.

a. Is making short-run economic profits when the equilibrium price is greater than average total costs at the equilibrium output

b. Is minimizing its economic losses when equilibrium price is below average total cost at the equilibrium output

c. Both is making short-run economic profits when the equilibrium price is greater than average total costs at the equilibrium output and is minimizing its economic losses when equilibrium price is below average total cost at the equilibrium output are true

d. None of these