Required information Skip to question The following graph depicts the various cost curves for a representative competitive firm producing quantity Q1: An image shows the curves of MC, SRAC, LRAC and they are lies on Price line.Image shows the bar graph which represents the curves of MC, SRAC, LRAC and it's lies on price line. At x-axis shows the Quantity per period and at y-axis shows the Costs in dollar. Refer to the above graph to answer this question. If the price of the product is P1, what does the graph suggest