QUESTION 1 (20 MARKS) The diagram below represents the short-run cost and revenue curves of a firm, Deka Bhd. Cost and r
Posted: Wed Jul 06, 2022 6:29 pm
- Question 1 20 Marks The Diagram Below Represents The Short Run Cost And Revenue Curves Of A Firm Deka Bhd Cost And R 1 (26.76 KiB) Viewed 21 times
- Question 1 20 Marks The Diagram Below Represents The Short Run Cost And Revenue Curves Of A Firm Deka Bhd Cost And R 2 (36.73 KiB) Viewed 21 times
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)