≪p><b><b><span Style="font-Size:20pt;"><span Style="color:#FF0000;"> ≪/span></span> ≪/b> If a Firm in a Perfectly

<p><b><b><span style="font-size:20pt;"><span style="color:#FF0000;"> </span></span> </b> If a firm in a perfectly competitive market faces the cost curves in the graph shown and produces at the profit-maximizing level of output, which of the following is true?

A) The firm will plan to exit the industry in the long run if the price falls below $15.
B) The firm will continue to operate in the short run as long as the price is below $11.
C) The firm will earn positive profits any time the price is greater than $11.
D) The firm will earn maximum profits at a quantity of 35.