Use the Following to Answer Questions

Multiple Choice

Use the following to answer questions:
Figure: Cost Curves for Corn Producers
-(Figure: Cost Curves for Corn Producers) Look at the figure Cost Curves for Corn Producers. The market for corn is perfectly competitive. If the price of a bushel of corn is $14, in the short run, the farmer will produce _____ of corn and earn an economic _____ equal to _____.

A) 4 bushels; profit; $0
B) 4 bushels; profit; just less than $80 per bushel
C) 2 bushels; profit; $0
D) 2 bushels; loss; just more than $80 per bushel