If a Perfectly Competitive Firm Is Producing in the Short

Multiple Choice

If a perfectly competitive firm is producing in the short run at an output where price is less than average total cost,the firm

A) will shut down.
B) is breaking even.
C) is still making a positive economic profit.
D) is incurring an economic loss but will continue to operate as long as price is above minimum average fixed cost.
E) is incurring an economic loss but will continue to operate as long as price is above minimum average variable cost.