Assume that the cost data in the following table are for a purely competitive producer:

Assume that the cost data in the following table are for a purely competitive producer:

1 $60.00 $45.00 $105.00 $45
2 30.00 42.50 72.50 40
3 20.00 40.00 60.00 35
4 15.00 37.50 52.50 30
5 12.00 37.00 49.00 35
6 10.00 37.50 47.50 40
7 8.57 38.57 47.14 45
8 7.50 40.63 48.13 55
9 6.67 43.33 50.00 65
10 6.00 46.50 52.50 75

a. At a product price of $56, what quantity of production will maximize profit? Explain. What is the profit (or loss) per unit at that level of output?
b. Answer the questions of part a, assuming product price is $41.
c. Answer the questions of part a, assuming product price is $32.