A purely competitive firm finds that the market price for its product is $25.00. It has a fist cost of $100.00 and a variable cost of $17.50 per unit for the first 50 units and then $32.50 per unit for all successive units.

A purely competitive firm finds that the market price for its product is $25.00. It has a fixed cost of $100.00 and a variable cost of $17.50 per unit for the first 50 units and then $32.50 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) v 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) v 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) v What about for units 51 and higher? (Click to select) v e. What output level will yield the largest possible profit for this purely competitive firm?[ units