1. Show and explain where consumer surplus, producer surplus, and deadweight loss are on an oligopoly graph (show the FIRM not the MARKET)
2. Show and explain where consumer surplus, producer surplus, and deadweight loss are on a NATURAL monopoly graph (show the FIRM not the MARKET)
3. Explain what the difference between the least cost rule for combining resources (MP/$ of resource x = MP/$ resource y) and the Profit-Maximizing rule for combining resources (MRP of labor/wage = MRP of Capital/Price = 1)
4. Explain why there is no consumer or producer surplus for A SINGULAR FIRM in perfect competition