Suppose a competitive firm facing market price p = 8 and operating with cost function C(q) = 5 + 2q chooses q to maximize profits. Which of the following statements is correct? 2 * The firm's marginal cost and average variable cost are equal. The firm is currently producing where average cost is at a minimum. In the short run when all fixed costs are unavoidable the firm should shut down if and only if price falls below p = 5. None of the choices are correct