Q1 (10 points) Consider the following cost curve for a firm in a competitive industry where the market price equals $42. 1 3 C(q) = = 39' + 69 + 1, 000. Select the correct answer O The firm's profit is -856; in the short-run the firm should produce O The firm's profit is -1,100; in the short-run the firm should shut-down O The firm's profit is -1,100; in the short-run the firm should produce O The firm's profit is -348; in the short-run the firm should produce O None of the answers hold