YORKVILLE WWW.YORKVILLEU.CA Price and cost per unit Co MC ATC Demand MR Quantity The diagram above represents a monopolistically competitive firm. Answer the questions below. (25 points) a. Is this firm operating in the short-run or long-run? How do you know? (5pt) b. Calculate this firm's accounting profit. (5pt) From the diagram, what is the productively efficient output for this firm? (5pt) d. From the diagram, economies of scale are maximized at which output level? Explain. (5pt) From the diagram, what is the allocation efficient output for this firm? Explain. (5pt)