(Solved): Price Diagram 1 MC Diagram 3 ATC J AR Quantity Price Diagram 2 Diagram 4 MC ATC AVC AR Quantity Di ...

Price Diagram 1 MC Diagram 3 ATC J AR Quantity Price Diagram 2 Diagram 4 MC ATC AVC AR Quantity Diagram 3 MC MC SRAC J V AR MR LRAC Diagram 4 Quantity FIGURE 11-2 Refer to Figure 11-2. Diagram 3 depicts a typical firm in long-run equilibrium in ATC AR Quantity A. a monopolistically competitive industry. B. a perfectly competitive industry. C. an imperfectly competitive industry. D. an oligopolistic industry. E. a monopolistic industry.