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27) The table above shows output and costs of Evan's Subs, a typical perfectly competitive firm in a local market for sandwiches. Evan's fixed cost is $9 per hour. The current market price of a sandwich is $6. What is Evan's marginal revenue from the 2nd sandwich sold?
A) $10.00
B) $13.50
C) $3.00
D) $6.00

28) The table above shows output and costs of Evan's Subs, a typical perfectly competitive firm in a local market for sandwiches. Evan's fixed cost is $9 per hour. The current market price of a sandwich is $6. If Evan's sells the 5th sandwich, the marginal cost is ________ the marginal revenue, so the firm's profit ________.
A) greater than; decreases
B) greater than; increases
C) less than; increases
D) less than; decreases
30) Consider the perfectly competitive firm in the above figure. The profit maximizing level of output for the firm is equal to
A) 0 units.
B) 14 units.
C) 17 units.
D) 19 units.

31) Consider the perfectly competitive firm in the above figure. At the profit maximizing level of output, the firm is earning
A) an economic loss equal to $119.00.
B) an economic loss equal to $123.50.
C) an economic loss equal to $187.00.
D) a normal profit.

32) Consider the perfectly competitive firm in the above figure. The shutdown point occurs at a price of
A) $11.00.
B) $12.00.
C) $16.00.
D) $22.00.
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