Graph 14-5 
The graph depicts the cost structure of a firm in a competitive market.Use the graph to answer the following question(s) .
-Refer to Graph 14-5.When market price is P₂, a profit-maximising firm's losses can be represented by the area:
A) (P₃ - P₂) * Q₂
B) (P₂ - P₁) * Q₂
C) at a market price of P₂, the firm does not have losses
D) at a market price of P₂, the firm has losses, but the reference points in the graph don't identify the losses
Correct Answer:
Verified
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