A firm in a competitive market has the cost structure shown in the table. If the market price is $10, this firm will:

a) Produce 5 units of output in the short run and exit in the long run,

b) Produce 5 units of output in the short run and face competition from new market entrants in the long run,

c) Produce 4 units of output in the short run and exit in the long run,

d) Shut down in the short run and exit in the long run,

e) Produce 4 units of output in the short run and face competition from new market entrants in the long run.

Output	Total cost
0	4
1	9
2	11
3	14
4	24
5	39