Mc NATO $ per unit 0 0.5 1 1.5 2 2.5 3 3.5 4 4.5 5 5.5 6 6.5 Quantity of Output (q) Consider the cost curves of a firm in a perfectly competitive market shown above. If the market price is $12, will the firm make a profit and what will the firm decide to do in the short-run? The firm will make a profit and shut down The firm will make a loss and continue to operate The firm will make a profit and continue to operate The firm will make a loss and shut down N N P 6 . C