A purely competitive firm finds that the market price for its product is $30.00. It has a fixed cost of $100.00 and a variable cost of $17.50 per unit for the first 50 units and then $35.00 per unit for all successive units.

Instructions:?Round your answers to 2 decimal places.

a. Does price equal or?exceed average variable cost for the first 50 units?

(Click to select)YesNo

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???What is the average variable cost for the first 50 units??$.

b. Does price equal or?exceed average variable cost for the first 100 units? ?

(Click to select)NoYes

.

???What is the average variable cost for the first 100 units??$.

c. What is the marginal cost per unit for the first 50 units??$?per unit.

??What is the marginal cost for units 51 and higher??$?per unit.

d. For each of the first 50 units, does MR exceed MC?

(Click to select)YesNo

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??What about for units 51 and higher?

(Click to select)YesNo

.

e. What output level will yield the largest possible profit for this purely competitive firm?units.