If a type of production cost for a firm cannot be changed in the short run and cannot be changed by changing the amount of output, it must be a:

multiple choice

• average cost.
• variable cost.
• fixed cost.
• profit.

The following graph gives the cost curves for a firm:

$ per unit ATC P1 (98, 62) P2 P3 A Firm Output (Q)Quantity of Mugs Marginal Cost 8.00 2 8.25 8.75 4 9.50 Suppose that the market price of coffee mugs is $9.50. What is MyJoe's profit-maximizing quantity