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Using graphical analysis contrast and compare the short run equilibrium

by | Nov 29, 2023 | Posted Questions

Using graphical analysis contrast and compare the short run equilibrium in the competitive market with the short and long run equilibrium in a monopoly. You will need to explain your graphs and analysis.

  • Competition:

Assume market clearing price is $25 and TC = 2000 + 10Q + .002Q2

Find, profit max Q, TR, TC, and Profit.

  • Monopoly:

Assume P = 100- 2Q

TC = 10 + 2Q

Find Profit max price and Quantity, profit, and elasticity at profit max.

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