First box option: produce or shut downSecond box option: economic loss or economic profitThird box option: must or, may or may notFourth box option: produce or shut down

Assume a competitive firm faces a market price of $70, and a cost curve of: C = 0.002q + 50q + 1000. The firm's profit maximizing output level is |units (enter your response rounded to two decimal places), and the per unit profit at this output level is $ . (Enter your response rounded to two decimal places-include the minus sign if necessary.) This firm will in the short-run. The firm will realize and have a business profit. In the long-run, if circumstances do not change, this firm will produce shut down