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QUESTION 4 The table below shows the quantity and marginal cost for a firm that sells their product at RM15. Quantity Marginal Cost Total Revenue Marginal Revenue (RM) (Units) RM RM) 50 42 38 30 24 20 15 12 B 10 aj Find the total revenue and marginal revenue for every output level. (4 marks) b) Determine the profit-maximizing price and profit-maximizing quantity for the firm. (2 marks) c) Given the total cost is RM250 at the equilibrium, calculate the total profit or loss for the firm. Identify types of the profit or less earned by the firm. (2 marks) d) If the average variable cost is RM10, determine whether the firm should continue or shut down its operation. Justify your answer. (3 marks) 2) Identify which types of market structure of the firm and give your reason. (2 marks) f) State the type of profit the firm earn in the long run and briefly explain. (2 marks)