a. Refer to the above data. If the market price for the firm's product is $13, how many

units will the competitive firm produce? (THINK!!!!!!!)

b. What will the firm's profit or loss be in answer 1?

c. If the market price for the firm's product is $27, how many units will the competitive firm produce?

d. What will the firm's profit or loss be in answer 3?

(hint: one possible solution starts with adding at least 2 new columns to this table and label columns MR and profit.)

AFC 120 --- --E_ 30 24 H Ii r'l' '1 WM \\JO'I 00 a. Refer to the above data. If the market price for the rm's product is $13, how many units will the competitive rm produce? (THINK!!!!!!!) b. What will the rm's prot or loss be in answer 1? c. If the market price for the rm's product is $27, how many units will the competitive rm produce? d. What will the rm's prot or loss be in answer 3? (hint: one possible solution starts with adding at least 2 new columns to this table and label columns MR and prot.)