Figure $7\mathrm{.}7$ shows cost and demand curves facing a profit$-$maximising, perfectly competitive firm.

Refer to Figure $7\mathrm{.}7.$ At price P $2,$ the firm would $\_\_\_\_\_\_\_\_.$

a$.$

lose an amount equal to its fixed cost

b$.$

break even

c$.$

lose an amount more than fixed cost

d$.$

lose an amount less than fixed costFigure $7\mathrm{.}7$ shows cost and demand curves facing a profit$-$maximising, perfectly competitive firm.

Refer to Figure $7\mathrm{.}7.$ At price P $2,$ the firm would $\_\_\_\_\_\_\_\_.$

a$.$

lose an amount equal to its fixed cost

b$.$

break even

c$.$

lose an amount more than fixed cost

d$.$

lose an amount less than fixed cost