Does price exceed average variable cost for first 50 units

Reference no: EM13242685

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 succcessive units.
Does price exceed average variable cost for the first 50 units?
What about for the first 100 units?
What i the marginal cost per unit for the first 50 units?
What about for units 51 and higher?
What output level will yield the largst possible profit for this purely competitive firm?

Reference no: EM13242685

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