- Question 4 Price Rm 20 15 4 It 25 104 150 Mc Avc Atc D Mr Quantity Units Figure 1 Answer All The Questions Below B 1 (46.39 KiB) Viewed 12 times
Question 4 Price (RM) 20 15 4 IT 25 104 150 MC AVC ATC D = MR Quantity (Units) Figure 1 Answer all the questions below based on the graph above. a) Justify the type of market structure the firm is operating in. (1 Mark) (2 Marks) b) Determine the profit-maximizing price and output for this firm? c) Calculate the amount of profit or loss at the equilibrium point and state the type of profit. (3 Marks) d) Determine the value of average variable cost at profit-maximizing level of output? (2 Marks)