Question $7$

A monopoly is producing where average total cost equals $\backslash$$$30,$ marginal revenue is $\backslash (\backslash$$ $40\backslash ),$ and the price is $\backslash (\backslash$$ $50\backslash ).$ If ATC is at its minimum level and the ATC curve is $\backslash ($ U $\backslash )-$shaped, in order to maximize profits this firm should:increase output.shut down.exit the market in the long run.reduce output.do nothing; it is already maximizing profits.