Q1: Give one example each of Monopoly and Monopolistic Competition.

Give two similarities and two differences between Monopoly and Monopolistic Competition.

q2:

Total Total Total Average |Average |Average Total Marginal Product Fixed Variable Fixed Variable Total Cost Cost Blankets) Cost Cost Cost Cost cost O A 0 B 1 70 25 95 70.0 25.0 95.0 F 2 70 40 110 35.0 D E 15.0 3 70 50 120 23.3 16.7 40.0 10.0 4 70 55 125 17.5 13.8 31.3 C 5 70 55 125 14.0 0.0 70 70 140 11.7 11.7 23.3 15.0 7 70 G 170 H 14.3 24.3 30.0 70 145 215 8.8 18.1 26.9 45.0