a. For example, if price were HO, then the firm could move anywhere along D,Dj. If HO were the market price, then the firm would produce and sell quantity (OF / OE / OG). Note that in this position, the firm would be (earning a positive economic profit / just breaking even / incurring a loss). (4pts) b. If price happened to be JO then the firm's demand curve would be ( D, D , / D , D , / D , D , ), and its maximum-profit output would be (OF / QE / 0G) . It would then be (earning a positive economic profit / just breaking even / incurring a loss). (4pts) c. If price were KO, the firm's best possible position would be to produce ( nothing / output OF / output OE). In this position, its loss would be (less than / equal to / greater than) the amount of Its fixed cost. (4pts) d. If price fell so low that it did not even cover average variable cost, then the firm would do better to cease operations entirely. On Figure 8-5, the boundary of this shutdown price zone is marked by price (HO / JO / KO / WO). This price is (greater than / equal to / less than) the minimum level of (average variable / average fixed) cost. (4pts)