Use the Following to Answer Questions

Multiple Choice

Use the following to answer questions:
Figure: Profits in Monopolistic Competition
-(Figure: Profits in Monopolistic Competition) Look at the figure Profits in Monopolistic Competition. A negative economic profit (or economic loss) is earned if the profit-maximizing price is _____ in panel _____.

A) E; (B)
B) B; (A)
C) N; (C)
D) O; (C)