A firm would be experiencing a loss but still be producing if the price is ________.

below $5
below $5 but above $4
below $4
above $5
Step 1: Select the option you believe is correct.

Step 2: Justify your choice by either explaining its correctness or identifying an incorrect option and discussing why it is not correct. Utilize the theories covered in the course for your explanation, and provide necessary calculations to support your argument, if required.