Use the Following to Answer Questions

Multiple Choice

Use the following to answer questions:
Figure: The Market for Gas Stations
-(Figure: The Market for Gas Stations) Look at the figure The Market for Gas Stations. This market is characterized by many firms, differentiated products, easy entry, and easy exit. In long-run equilibrium, the economic profit earned by the typical gas station will be:

A) equal to the level shown in the figure.
B) negative.
C) zero.
D) Not enough information is given to answer the question.