Question: A price - taking firm has a total cost function given by: TC = 4 0 + 9 q + 6 q ? . The

A price-taking firm has a total cost function given by: TC=40+9q+6q?. The firm's costsare the same in the short and the long run. The current price is $7.00 and expected to staythere in the long run. What should the firm do?Select one:O a. Produce in the short run and continue operating in the long run.O b.Cannot be determined given the information.O c.Shutdown once the firm reaches the long run but produce output in the short run.O d.Shutdown in the short run.

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