Question 2 Price ATC MC AVC Quantity Figure 1. This graph depicts the cost structure for a firm in a competitive market. Use the graph to answer questions 2-4. Refer to Figure 1. When price rises from P2 to P3, the firm finds that . marginal revenue exceeds marginal cost at a production of Q2. . if it produces at output level Q3, it will earn zero profit. . expanding output to 04 would leave the firm with losses. . all of the above are true