sup acc ch 5 and 6 concept... 1503 IPUISJBUL SIPnba aDUJAa LIATIIBILO D Question 3 For a perfectly competitive firm, if the equilibrium price is below the average variable cost curve at the equilibrium output, the firm should O produce because it will lose less if it produces than if it does not produce O not produce in the short run because it loses less if it doesn't produce than if it produce O produce because it will make a positive profit O not produce because it is not at equilibrium