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Figure: The Perfectly Competitive Firm
-(Figure: Perfectly Competitive Firm) Look at the figure The Perfectly Competitive Firm. The figure shows a perfectly competitive firm that faces demand curve d and maximizes profit. If the market price is $3, the firm will produce _____ units of output per day.

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Use the following to answer questions:
Figure: The Perfectly Competitive Firm 
-(Figure: Perfectly Competitive Firm) Look at the figure The Perfectly Competitive Firm. The figure shows a perfectly competitive firm that faces demand curve d and maximizes profit. If the market price is $3, the firm will produce _____ units of output per day.

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In a perfectly competitive market, the firm maximizes profit where marginal cost (MC) equals market price. If the market price is $3, the firm will produce where the MC curve intersects the price line at $3, which is at 300 units of output per day.

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