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In the figure, if the price is P 1 and the firm produces Q 2, it is A. breaking even. B. More information is needed

In the figure, if the price is

P1 and the firm produces Q2,

it is

A. breaking even.

B. More information is needed to determine whether the firm is earning an economic profit, a normal profit, of is incurring an economic loss.

C. making an economic profit.

D. incurring an economic loss.

MC ATC Price and costs (dollars) P1 O Q1 Q2 Q 3 Quantity (per day)

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