STRUCTURE QUESTIONS 1} A rm operates in a perfectly competitive labor market produce a product which it charges RM 2.0a. Table 2: Firm's weekly production Number of Total output Marginal physical Total Marginal revs nus workers per per week precinct of labor revenue [TR] product of labour MFL MRPL a} Complete the blanks for each column. b} Assume the wage rate is RM12, how many workers would the rm hire to maximize prots? {1 mark} c] Sketch a diagram to show the equilibrium position of this rm. {2 marks} 2. The table below shows the number of labor and total product of Gemilang Shop. I Marginal Reue nue