Price and cost P2 Q Q Q2 Q ATC MC AVC MR Quantity 3) Refer to Figure 10.14. Suppose the prevailing price is P and the firm is currently producing its loss-minimizing quantity. If the firm represented in the diagram continues to stay in business, in the long-run equilibrium, A) It will continue to produce Q1 but faces the higher price of P2. B) it will reduce its output to Q and face a price of Po- C) It will expand its output to Q3 and face a price of P1. D) it will expand its output to Q2 and face a price of P2. 3) -