is the firm in short-run or long-run equilibrium? responses short run, because price is greater than marginal cost short run, because price is greater than marginal cost short run, because the firm is earning a positive economic profit short run, because the firm is earning a positive economic profit long run, because price is greater than average total cost long run, because price is greater than average total cost long run, because marginal revenue is not equal to zero long run, because marginal revenue is not equal to zero either short run or long run, because the firm is producing where marginal revenue equals marginal cost