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marginal cost (MC), average variable cost (AVC) and average total cost (ATC) curves: ATC MC P 2 AVC P1 q 91 92 If the market

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marginal cost (MC), average variable cost (AVC) and average total cost (ATC) curves: ATC MC P 2 AVC P1 q 91 92 If the market price is P1, then XYZ will: O produce zero units of output and earn a profit equal to zero. O produce zero units of output and earn a negative profit. produce q1 units of output and earn a profit equal to zero. O produce q1 units of output and earn a negative profit. O produce q1 units of output and earn a positive profit

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