The deep state entered Americaâs national discourse in 2017 with the feeling of an already familiar character, ready to assume a starring role as hero or villainâdepending on how you feel about Trump.
If a firm produces past that point, then marginal revenue is less than marginal cost. This means that the firm is losing profit with each additional unit of output and it should produce less. Remember that a competitive firm has a flat MR curve which is equal to the market price.
Online Review Copy. Refer to the above table. If the market price for the firm's product is $180, the competitive firm will produce: a. 5 units and earn economic profits of $100 b. 6 units and earn economic profits of $120 c. 7 units and earn economic profits of $238 d. 8 units and earn economic profits of $278 6.Refer to the above graph.f a competitive firm faced with these costs finds that it can sell its product at $60 per unit, it will: a. Produce 5 units and incur a loss of $50 b. Produce 6 units and incur a loss of $30 c. Produce 7 units and realize a profit of $32 d. Close down in the short run 34.