Question 1 20 Marks The Diagram Below Represents The Short Run Cost And Revenue Curves Of A Firm Deka Bhd A Identif 1 (22 KiB) Viewed 10 times
Question 1 20 Marks The Diagram Below Represents The Short Run Cost And Revenue Curves Of A Firm Deka Bhd A Identif 2 (22.41 KiB) Viewed 10 times
QUESTION 1 (20 MARKS) The diagram below represents the short-run cost and revenue curves of a firm, Deka Bhd. a) Identify the market structure of the firm operating in perfect competition or monopoly or monopolistic competition. Give a reason for your answer. (4 marks) b) Find the profit- maximizing price and output. (2 mark)
c) Calculate the amount of total revenue (TR), total cost (TC), and profit/loss at equilibrium. State the type of profit. (10 marks) d) Should the firm continue or shut down its operation? Why? (4 marks)
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