Use the following figure to answer the question : Figure 9-4 : shows the marginal cost curve,the average cost curve,the average variable cost curve,and the demand curve for a firm over different levels of output.The market price is $P. 
-Refer to Figure 9-4.If the firm chooses to shut down when the market price is $P,what is the loss it would incur?
Definitions:
Option Position
An option position refers to an investment strategy involving the buying or selling of options, which are derivatives based on the value of underlying securities like stocks.
Call Contract
An agreement giving the buyer the right, but not the obligation, to buy a specified amount of an underlying asset at a set price within a specified time.
Texas Insurance
Insurance products and services regulated and offered within the state of Texas, covering various sectors like health, auto, and property.
Call Premium
The additional amount over the bond's face value that must be paid to call a bond before its maturity date.
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