What does the firm have to do to maximize its profits, Microeconomics

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What does the firm have to do to maximize its profits

Problem

A firm is currently producing 30 units of output. At this level of output produced:

Its average total cost is 110 (ATC =110) The market price per unit of output is 125

MR= 30

MC = 50

A) Is this firm making profits or losses? How much?

B) Are they maximum profits? Why?

C) If your answer to part ii was no, what does this firm have to do to maximize its profits?

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

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