The vertical axis ranges from 0 through 200 dollars in increments of 50. The horizontal axis ranges from 0 through 10, in unit increments. MC passes through the following points: (0.5, 90), (3.55, 60), and (9.9, 160). AVC forms a downward sloping curve passing from the points (1.2, 85) through (10, 90). ATC forms a downward sloping curve passing from points (1, 185) through (10, 101). MR equals P is a straight horizontal line passing from point (0, 75) through (10, 75). The shaded area between cost and revenue 75 through 80 till 6 units represents loss. A equals 91.67 dollars; P equals 81 dollars; and V equals 75 dollars. All data are approximate.This graph illustrates that a firm can minimize its losses by producing where Blank______. Multiple choice question.

price equals minimum average variable cost but is less than minimum average total cost

price exceeds minimum average variable cost but is less than average total cost

price exceeds minimum average variable cost but is less than marginal cost

price exceeds minimum average total cost but is less than average fixed cost