Question
1.Assume there is a tendency of moving from competitive to monopoly market structure. If the demand and total functions are Q=100-2P and TC=14Q+2Q 2, respectively
1.Assume there is a tendency of moving from competitive to monopoly market structure. If the demand and total functions are Q=100-2P and TC=14Q+2Q2, respectively
a.Determine Price ,output of competitive and price and output of monopolistic competitive
b.Show the equilibrium Q and P you obtained in (a) above graphically.
c.Calculate the CS (consumer surplus) and PS (producer surplus) under perfect competitive and monopoly market structure.
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Global Business Today
Authors: Charles Hill
9th Edition
1259299201, 9781259299209
