Graph 14-6

This Graph Depicts the Cost $\Delta$

Graph 14-6

This graph depicts the cost structure of a firm in a competitive market. Use the graph to answer the following question(s) .
-Refer to Graph 14-6. When market price is P₁, a profit-maximising firm's total profit or loss can be represented by which area?

A) (P₃ - P₁) * Q₂; loss
B) P₁ * Q₃; profit
C) ( $\Delta$ P₂ - P₁) * Q₁; loss
D) we can't determine it because we don't know the fixed costs