Exhibit 14-5 The graph depicts a monopolistically competitive firm's demand, marginal revenue, and cost curves. MC $56 52; 50 44- - AVC 38- - Demand MR 60 | 85 1 Sweaters 70 100 per Week Refer to Exhibit 14-5. The monopolistically competitive firm depicted is: O operating in the short run. O operating in the long run. O operating either in the short-run or the long-run period. O earning an above normal profit