Price per unit d 0 Aft Q Quantity per period MR (b) MC a Quantity per period D-AR AC D-AR G 3.1 With the aid of a contemporary example of a relevant industry, identify and discuss the characteristics of the type of market structure depicted above. 3.2 Using graph (a), explain how the firm may reach its profit maximising position and likelihood of the firm making an economic profit. (10)

3.1 With the a characterisucs of the type of market stru ur a relevant industry, identify and discues the 3.2 Using graph (a), explain how the firmet structure depicted above. of the firm making an economic protit may reach its profit maximising positon and likerinood (90) 3.1 With the a characterisucs of the type of market stru ur a relevant industry, identify and discues the 3.2 Using graph (a), explain how the firmet structure depicted above. of the firm making an economic protit may reach its profit maximising positon and likerinood (90)