#6 econ class

TOLal Average Fixed Average Variable Average Total Marginal Product Cost Cost Cost Cost $190.00 $ 17.00 $1 17.00 $17 50.00 16.00 60.00 15 33.33 15.00 48.31 25.00 14.25 39.25 12 20.00 14.00 34.00 13 16 67 14.00 30.67 141 14.29 15.71 30,00 26 12.50 17.50 30.00 30 11.11 10.35 10.00 21.60 31.60 9.09 24.0 13.09 26.67 35.00 The table above gives cost dat for a firm operating in a competitive market. If the market price of its product is $30, how many units will this firm produce and what will be its profit? ( a) It will produce 7 units and earn no profits. b) It will produce 8 units and earn no profits. Od It will produce 8 units and earn normal profits. 'd) It will produce 8 units and earn 320 in profits