A purely competitive firm finds that the market price for its product is $25. It has a xed cost of $100 and a variable cost of $17.50 per unit for the first 50 units and then $30 per unit for all successive units. Instructions: Enter your answers rounded to two decimal places. a. Does price equal or exceed average variable cost for the first 50 units? {Click to select) 3 What is the average variable cost for the first 50 units? 95 |:| per unit b. Does price equal or exceed average variable cost for the first 100 units? {Click to select) 3 What is the average variable cost for the first 100 units? $ |:| per unit c. What is the marginal cost per unit for the first 50 units? $ |:| per unit The marginal cost for units 51 and higher? $ |:| per unit d. For each ofthe first 50 units. does MR exceed MC? {Click to select) Is MR > MC for units 51 and higher? {Click to select) 3 e. What output level will yield the largest possible prot for this purely competitive firm? |:| units