Refer to the graphs shown, which depict a perfectly competitive market and firm. If market demand increases from D0 to D1, the firm will: 
Definitions:
Pay Levels
The range of compensation provided to employees, typically categorized into bands or grades based on job roles, responsibilities, and market benchmarks.
Profitability
A measure of the efficiency and financial success of a business, indicated by the amount of profit generated relative to revenue and expenses.
Market Pay
The average amount of compensation given to employees within a specific job market, industry, or geographic area.
Job Classification System
A method for categorizing jobs into groups or classes based on similar duties, responsibilities, and qualifications.
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