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Question 151

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Use the following to answer question: Use the following to answer question: -(Figure: The Profit-Maximizing Firm in the Short Run) Use Figure: The Profit-Maximizing Firm in the Short Run.If the market price is less than P<sub>2</sub>,the firm will _____ in the short run. A) produce q<sub>1</sub> and break even B) produce q<sub>1</sub> and incur a loss smaller than total fixed cost C) shut down D) produce q<sub>3</sub> and make a profit
-(Figure: The Profit-Maximizing Firm in the Short Run) Use Figure: The Profit-Maximizing Firm in the Short Run.If the market price is less than P2,the firm will _____ in the short run.


A) produce q1 and break even
B) produce q1 and incur a loss smaller than total fixed cost
C) shut down
D) produce q3 and make a profit

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