W Quanti (firm) Q, Q2 O In the short run, the firm will produce Q; units of output. O In the short run, the firm will produce Q2 units of output. O In the short run, the firm will produce Q3 units of...

ASAP

Extracted text: W Quanti (firm) Q, Q2 O In the short run, the firm will produce Q; units of output. O In the short run, the firm will produce Q2 units of output. O In the short run, the firm will produce Q3 units of output. O The firm's profit will be equal to the area of the shaded box. O The firm's loss will be equal to the area of the shaded box. O None of the answers are correct.


Extracted text: Consider the unit cost curves of a single firm in competitive market. The market price is X and the firm applies the shutdown rule and the short term output rule to determining how much to produce. $/unit MC, ATC, AVC, Q3 Q2 Quantity (firm) Q, O In the short run, the firm will produce Q: units of output. In the short run, the firm will produce Q units of output.