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Question 3 (7 Marks) Mercedes Benz is a luxury car multinational company with headquarters in Gemany. The brand was established by Carl Benz in 1886

Question 3 (7 Marks) Mercedes Benz is a luxury car multinational company with headquarters in Gemany. The brand was established by Carl Benz in 1886 and Daimler-Motoren-Gessellschaft, and was incorporated in 1901 to form Mercedes Benz. since then, Mercedes Benz established subsidiaries in other parts of the world including Melbourne. Assume the figure below represents the short run cost curves for Mercedes Benz in Melourne. Answer the questions that follow. Price (AUD '000) DO Number of cars Use 2 characteristics to explain the market structure for Mercedes Benz. 4 marks ANSWER a): b. Calculate the profit or loss for Mercedes Benz in Melbourne. 3 marks ANSWER a)

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