5 P5 Average total cost da P Average variable cost 3 da Dollars per unit 2 B Quantity per period 92 93 94 95 Refer to Exhibit 8.9, which shows a perfectly competitive firm's short-run output decisions. At price p4, the firm a ) produces at a specific output to minimize its short-run loss. Ob) produces nothing . c earns short-run economic profit by producing at a specific output. (d) is indifferent between producing and shutting down. O e) produces at a specific output to earn a normal profit