LEARNING ACTIVITY Match Column A with Column B. A B 1. Point of profit maximization Homogeneity 2. Similarity of products b. MR = MC c. Price taker 3. No control over the market d. P = ATC 4. Big number of buyers and sellers e. Total Cost 5. Transferability of resources f. Price-setter g. Aggregate Supplies of Firms 6. Increase in new investors h. Market Price 7. Industry Supply i. Free entry 8. Price in Pure Competition j. Highest price k. Plurality 9. Profit 1. TR-TC 10. Break-even m. Mobility n. Average cost Exercise 2 Complete the following table: Price Qd TC TR AC MR MC Profit P3.00 5 10 3.00 10 25 3.00 15 30 3.00 20 33 3.00 25 45 3.00 30 66 At which quantity above is profit maximized? Is this extraordinary or normal profit? Why