Explain what happens to the profits if output level is (1) below , (2) beyond the producer equilibrium level?

The answer to your question is already covered in our study material. Follow the given link and scroll down to the topic ' Condition:1 Price(MR) = Marginal cost' to view the same.

https://www.meritnation.com/cbse/class12-commerce/studymaterial/economics/introductory-microeconomics/the-theory-of-the-firm-under-perfect-competition/338_1983_5815#slide1_Profit Maximisation Conditions for Perfect Competition