Use the following table to answer the questions that follow it.
a. If the perfectly competitive firm faces a market price of $7.50, the firm should produce _____ units for a (profit/loss) of $_____.
b. If the price falls below $_____, the firm should shut down.
c. If the perfectly competitive firm faces a market price of $4.50, it should produce _____ units for a (profit/loss) of $_____.
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