This graph represents the cost and revenue curves of a firm in a perfectly competitive market.
According to the graph shown,if a firm is producing at Q2:

Question

This graph represents the cost and revenue curves of a firm in a perfectly competitive market. 
According to the graph shown,if a firm is producing at Q2:

Quizplus · Accepted Answer

At Q2, the firm is producing at the level where marginal cost (MC) equals marginal revenue (MR), which is where profits are maximized. At this level, the average total cost (ATC) curve is also at its minimum, indicating that the firm is producing at an efficient scale. Therefore, all of the given statements are true.

This Graph Represents the Cost and Revenue Curves of a Firm