Graphical interpretation of market structure

Part I. The table below shows the quantity of production, the total income and the total cost of a company in its production process.

Amounts in production Total income Total cost 0 0 27.23 1 36 55.69 2 72 81.68 3 108 105.19 4 144 123.75 5 180 141.08 6 216 155.93 7 252 174.49 8 288 198.00 9 324 226.46 10 360 259.88 11 396 303.19 12 432 371.25 13 468 445.50 14 504 536.25 15 540 605.00

Part II.

a)Using the Excel program, make a graph in which the total income and total cost are represented.

b) Determine the level of economic profit or loss for each level of production.

c) Identify the point where profit is maximized.

d) Identify to which of the four market structures studied this example belongs. Explain your answer in a paragraph of at least five sentences.