Given a price of p2, this firm in a purely competitive industry should ___________

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Question:Given a price of p2, this firm in a purely competitive industry should ___________

1.Produce Q1

2.Produce Q3 with a minimum loss

3.Produce Q5 with an economic profit

4.Shut down to minimize the loss at the fixed cost level

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  1. Given a price of p2, this firm in a purely competitive industry should ___________
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