Table 1 shows production cost and revenue for a firm.

(a) Fill in the blanks in this table; comprising of TVC, MC, TR and MR.

(b) Find the profit maximizing price and quantity for this firm.

(c) Explain TWO characteristics of the firm in this market structure.

Quantity Total Variable Cost Total Cost Marginal Cost Total Revenue Marginal Revenue| Average Revenue (unit) (RM) (RM) (RM) (RM) (RM) (RM) 0 12 12 22 12 28 12 WN 33 12 40 12 52 12 72 12 Table 1