Question: 4. The following graph represents the long-run equilibrium for a representative firm in monopolistic competition. MC ATC Demand MR DE Quantity (a) What will be

4. The following graph represents the long-run equilibrium for a representative

firm in monopolistic competition. MC ATC Demand MR DE Quantity (a) What

4. The following graph represents the long-run equilibrium for a representative firm in monopolistic competition. MC ATC Demand MR DE Quantity (a) What will be the product price at equilibrium? (1 pf) (b) What will be the output quantity at equilibrium? (1 pt) (c) What will be the amount of economic profit at equilibrium? (1 pt)

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