3:03 1 4G A docs.google.com CONFIDENTIAL 11 BM/AUG 2022/ECO162/104 QUESTION 4 The diagram below shows, the cost and revenue conditions of a firm. Price (RM) MC A 65 52 40 20 C (units) 50 100 a) Identify the market structure this firm is operating in. Label curve A, B and C. (4 marks) b) Determine the profit-maximizing price and quantity of the firm. (3 marks) c) Calculate the total profit at equilibrium. State the type of profit the firm is eaming. Justify your answer. (4 marks) d) Should this firm continue or shut down its operation? Give a reason. (3 marks) e) State three (3) characteristics of this firm. (3 marks) @Hak Cipta Universiti Teknologi MARA CONFIDENTIAL