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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 successive units. For each of the first 50 units, does MR exceed MC? What about 51 and higher? What output level will yield the largest possible profit for this pure competitive firm?

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Macroeconomics, Economics

Category:- Macroeconomics
Reference No.:- M9493609

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