![Draw a diagram of the long-run equilibrium in a monopolistically competitive market. How is price related to average total cost? How is price related to marginal cost? | Homework.Study.com Draw a diagram of the long-run equilibrium in a monopolistically competitive market. How is price related to average total cost? How is price related to marginal cost? | Homework.Study.com](https://homework.study.com/cimages/multimages/16/dia_065162210570635084718.jpg)
Draw a diagram of the long-run equilibrium in a monopolistically competitive market. How is price related to average total cost? How is price related to marginal cost? | Homework.Study.com
UNIT – V SHORT RUN AND LONG RUN EQUILIBRIUM OF THE MONOPOLY FIRM A. Short-run equilibrium: The monopolist maximizes his short
![Draw a graph, showing a firm in long run monopolistically competitive equilibrium. Label everything clearly. Can a firm under monopolistic competition make economic profits in the long run? Why or why not? Draw a graph, showing a firm in long run monopolistically competitive equilibrium. Label everything clearly. Can a firm under monopolistic competition make economic profits in the long run? Why or why not?](https://homework.study.com/cimages/multimages/16/22-011519662109661619202.jpg)