Figure 1 Price and COL MC ATC AVC 20 MR 15 14 11 5 750 1,100 1,350 1,800 Quantity The following questions are based on the given Figure 1. a) What market structure is this firm operating in? (1 Mark) b) State THREE (3) characteristics of this market structure. (3 Marks) c) What is the profit-maximizing price and quantity? (1 Mark) d) Calculate the total revenue. (1 Mark) e) Calculate the total costs. (1 Mark) () Shade the area of profit or loss in the above graph. (1 Mark) g) Should the firm shutdown or proceed with their business? Explain your answer. (2 Marks)