What is likely to occur in this market and why

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Q. at its current level of production a profits-maximizing firm in a competitive market receives 12.50 for each unit it produces and faces an average total cost of $10.at market price of $12.50 per unit, firms marginal cost curve crosses marginal revenue curve at an output level of 1,000 unit. What is firms current profit? What is likely to occur in this market and why?

Reference no: EM1369557

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