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4. Consider the graph below representing the operations of Firm Z: MC ATC D MR Q Which of the following is true abpout this graph (mark one "x")? a. It describes a monopolist that is earning an excess economic profit. b. It describes a competitive fringe firm in an oligopolistic market. 1111 c. It describes the long-run equilibrium for a firm in monopolistic competition. . It describes a firm earning an economic loss in the short-run. three (3) other firms. Each