Table 101 -Refer to Table 10

Multiple Choice

Table 10.1
$$\begin{array} { c c c } \mathrm { Q } & \mathrm { P } ( \$ ) & \mathrm { TC } ( \$ ) \\\hline 1 & 27 & 10 \\2 & 24 & 17 \\3 & 21 & 32 \\4 & 18 & 47 \\5 & 15 & 67\end{array}$$
-Refer to Table 10.1,which shows the output,price,and total cost for a monopolistic competitor.At the profit-maximizing output,the monopolistically competitive firm is in _____

A) long-run equilibrium, and price equals average total cost.
B) long-run equilibrium, and price is less than average total cost.
C) short-run equilibrium, and price is greater than average total cost.
D) short-run equilibrium, and incurs an economic loss.
E) short-run equilibrium, and there is zero economic profit.