A purely competitive firm finds that the market price for its product is $20. It has a fixed cost of $100 and a variable cost of $10 per unit for the first 50 units and then $25 per unit for all successive units. Instructions: Enter your answers as a whole number. a. Does price exceed average variable cost for the first 50 units? Yes v For the first 100 units? Yes v b. What is the marginal cost per unit for the first 50 units? $ per unit The marginal cost for units 51 and higher? s per unit For each of the first 50 units, does MR exceed MC? Yes ~ Is MR = MC for units 51 and higher? No ~ d. What cutput level will yield the largest possible profit for this purely competitive firm? units