Textbook Problem

Consider a firm operating with the following: price = 10, MR = 10, MC = 10, ATC = 10. This firm is

1. a. making an economic profit of 10.
2. b. an example of monopolistic competition.
3. c. going to go out of business in the long run.
4. d. a monopolist for a product with a relatively inelastic demand.
5. e. perfectly competitive in long-run equilibrium.