Question: Hi, how do I state 2 reason why this is a perfectly competitive? (Refer to the table 2) C = 2. Amber owns a factory

Hi, how do I state 2 reason why this is a perfectly competitive?

(Refer to the table 2)

Hi, how do I state 2 reason why this is a perfectlycompetitive? (Refer to the table 2) C = 2. Amber owns a

C = 2. Amber owns a factory producing Good M which she sells at $50 per unit. There are many other firms producing similar product as Amber's factory. Table 2 below shows the output, cost and revenue data of Amber's factory. Table 2 Quantity Total Cost ($) MC ($) TR ($) MR ($) A (35) 100 130 C 150 160 200 200 250 250 300 B 320 D 350 420 100 400 2019 RP/SMC/DIHRM/TERM4/ZC Page 1a. State two reasons why this is a perfectly competitive firm. b. Calculate values A, B, C, and D in the table. Show your workings clearly. A: 80- 45 = 35 B: 250 + 70 = 320 C : 50 x 3 = 150 D: 50 X 7 = 350 izing level of output for Amber's firm

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