The following graph glves the cost curves for a firm: $ per unit At each market price for the firm's output, indicate the firm's decisions in the Short Run and Long Run: a. Price 1- The firm will: produce at a profit in both Short Run and Long Run. exit in the Long Run. produce at a profit in the Short Run, and shut down in the Long Run. produce at a loss in the Short Run, and produce at a profit in the Long Run. b. Price 2- The firm will: produce at a loss the Short Run and shut down in the Long Run. stop production in the Short Run and exit in the Long Run. produce at a loss in the Short Run, and produce at a profit in the Long Run. produce at a profit in the Short Run, and shut down in the Long Run. c. Price 3- The firm will: produce at a loss in the Short Run, and produce at a profit and Long Run. produce at a profit in the Short Run, and shut down in the Long Run. produce at a loss in both the Short Run and the Long Run. stop production in the Short Run and exit in the Long Run.