. If the price is consistently below average total cost, then in the short run a perfectly competitive rm should: Oa. raise the price. Ob. shut down. Oc. continue to produce to minimize losses. Od. There is not enough information given to answer this question. . If the price is greater than the average variable cost and less than the average total cost at the prot maximizing quantityr of output in the short run, a perfectly competitive rm will: 03. produce more than the protmaximizing quantity. Ob. produce at an economic loss. Oc. shut down production. Od. produce at an economic prot. . In the short run, if P c: AVC, a perfectly competitive rm: Oa. produces output and incurs an economic loss. 01}. does not produce output and incurs an economic loss. Oc. does not produce output and earns an economic prot. Od. produces output and earns an economic prot