Scenario 3 Assume a competitive firm currently produces 1,000 units of output. The marginal cost of producing the 1000" unit is $15. At q = 1,000, the firm's average total cost equals $11. The firm sells its output for $12 per unit. Refer to Scenario 3. At q = 999, the firm's profit amounts to $993 $999 $1,003 $1,007 QUESTION 31 Scenario 3 Assume a competitive firm currently produces 1,000 units of output. The marginal cost of producing the 1000" unit is $15. At q = 1,000, the firm's average total cost equals $11. The firm sells its output for $12 per unit. Refer to Scenario 3. To maximize its profit in the SR, the firm should O shut down. Increase its output quantity continue to produce 1,000 units. decrease its output quantity