The following graph shows the short$-$run average total cost curves and the long$-$run average total cost curve for a publishing firm. The five marked quantities indicate points $of$ tangency between each short$-$run average total cost curve $(SRATCSRATC)$ and the long$-$run average total cost curve $(LRATCLRATC)$; for example, $Q11$ marks the point $of$ tangency between SRATC$1$SRATC$1$ and LRATCLRATC.

The orange point $on$ SRATC$5$SRATC$5$ indicates the firm's current output level $in$ the short run $(Q55).$

The following graph shows the short$-$run average total cost curves and the long$-$run average total cost curve for a publishing firm. The five marked

quantities indicate points $of$ tangency between each short$-$run average total cost curve $(SRATC)$ and the long$-$run average total cost curve $(LRATC)$;

for example, $Q_1$ marks the point $of$ tangency between $SRAT{C}_1$ and LRATC.

The orange point $onSRAT{C}_5$ indicates the firm's current output level $in$ the short run $(Q_5).$

$In$ the long run, $if$ the firm decides $to$ keep output $at$ its initial level, what will $it$ likely $do?$

Shift $to$ operate $on$ SRATC ${?}_{(}1)$

Shut down

Shift $to$ operate $onSRAT{C}_3$

Stay $on$ SRATC$5$

$At$ which output level $(or$ range $of$ output levels$)$ does the firm produce its current volume $of$ output most efficiently?

$Q_2$

$Q_3$

$0to{Q}_3$

$Q_{2}to{Q}_4$

$Q_4$