Please see the attached23. Answer and explain your solution. Thanks.

Below is a graphical Illustration of a typical rm operating in a monopolistlcally competitive industry: Refer to the graph above to answer this question. Which of the following statements l5 correct? Select one: Q a. This graph illustrates a short-run situation and the rm will soon be producing more. C) b. This graph illustrates a short-run situation and the rm will soon be charging a higher price. (:3: c. This graph illustrates a short-run situation and the rm will soon be producing less. (3 d. This graph illustrates a long-run situation the and rm will soon be producing more. 0 e. This graph illustrates a long-run situation and the and rm will soon be charging a higher price