Please give answer in at least 1 hour if possible

4. Fully explain how a monopolistically competitive rm makes its pricing and output decision. If a monupulistically competitive rm is making prots in the short run, are these prots sustainable in the long run? Fully explain what happens as the rm moves to the long-run. [Draw a diagram to illustrate the situation of the rm in the short-run and then in the long run]. [10]