The table below contains information about the production, costs and profits of a firm. The price faced by the firm in a perfectly competitive market is $51 per unit. Identify the output level at which profits are maximised. Total Average Average Average Total Fixed Variable Marginal Variable Fixed Total Output Costs Costs Costs Costs Costs Costs Profits 0 24.00 1 24.00 40.00 40.00 40.00 -13.00 2 24.00 75.00 35.00 37.50 49.50 3 20.00 31.67 4 22.00 29.25 5 143.00 26.00 28.60 6 174.00 29.00 7 212.00 30.29 8 24.00 260.00 48.00 124.00 9 24.00 320.00 60.00 10 24.00 396.00 39.60 2.40 42.00 Select one: O a. 1 unit O b. 2 units O c. 3 units O d. 4 units O e. 5 units Of. 6 units O g. 7 units O h. 8 units O i. 9 units O j. 10 units