In the figure below, panel (a) shows the marginal cost of a firm in a competitive market, and panel (b) shows the market supply curve for a market with a fixed number of identical firms. Price i Price (a) Firm (b) Market MC MC $2.00 $2.00 $1 00 $1 00 100 200 Quantity Q1 Q2 Quantity Refer to the figure above. If there are 600 identical firms in this market, what level of output will be supplied to the market when the price is $2.00? O a. 6,000 O b. 60,000 c. 12,000 O d. 120,000 O e. 30,000The figure shows the cost curves of a competitive firm: T Price MC ATC AVC Pat Pc Pat - Quantity Refer to the figure above. At which price is the firm making a loss but trying to remain open for business? O a. Pb O b. Pd O C. Pc O d. Pa