1. For any of the above questions you may substitute work with the calculus modules:

• Monopoly
• Monopolistic competition

For each module show your answers to the questions and explain how your work helped your understanding of both calculus and economics.

Calculus option:

1. For one of the questions above you may substitute work with calculus on "Monopoly" and "Monopolistic Competition" (see optional calculus module.) For each of these sections, show your answers to the problems and your work to find those answers. Then, for each section describe what you learned about: a) economics and b) calculus.
2. Complete table for Q, Price, TC, MC, MR and profits.

Start the price at the number of letters in your first and last names combined for Q = 1, and then reduce the price as Q increases. (You are price-making monopoly)

For costs, begin with TC = 4 at Q = 1, then you may use any numbers you like for costs. You may need to play around with the numbers to make this work out.

Show that MR = MC at profit maximization.