• managerial economics:

In a competitive industry, the market-determined price is $60.For a firm currently producing 100 units of output, short-run marginal cost is $50, average total cost is $95, and average variable cost is $10.This firm also incurs total quasi-fixed costs of $7,000 (or $70 per unit).Is this firm making the profit-maximizing decision?Why or why not?If not, what should the firm do?