1,How we compare the perfect competition, monopoly and monopolistic competition ( by using tables or graphs.)(such as the features of markets, products, output, price level and efficiency etc )

2, Which of the following items are sold by firms in monopolistic competition? Explain your selections.

Cable television service

Wheat

Athletic shoes

Breakfast cereals

Toothbrushes

3.Use Figure 14.1, which shows the situation facing Flight Inc., a producer of running shoes, to work following Problems.

3.1- What quantity does Flight produce, what price does it charge, and what is its economic

profit?

3.2- In the long run, how does Flight change its price and the quantity it produces?What happens to the market output of running shoes?

-3.3 Does Flight have excess capacity in the long run? If the firm has excess capacity in the long run, why doesn't it decrease its capacity?

FIGURE 14.1 Problems 5 to 8 Price and cost (dollars per pair) 100 MC ATC 80 60 40 20 MR 100 150 200 250 Quantity (pairs of running shoes per week)