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Micro: Perfect and Monopolistic Competition 
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#1
May512, 07:33 PM

P: 222

Hello guys,
There is something that I should study but is not on my book. I am trying to find other explanations online but I can't. So, it's pretty much to calculate quantity and price for perfect competition and monopolistic competition. Then, consumer surplus for perfect competition and monopolistic competition. Then, ∏ (profit) for both, Then, deadweight loss for both. Then, I should graph it. Take all the numbers, the information I got, and have them in one graph. But I am lost. This is one of the examples my prof gave in class. I would like someone to give me, PLEASE, a better and easier explanation. It all starts with P = 12  2Q MC = 4 


#3
May612, 03:19 PM

P: 222

I know that for perfect competition, P = MC
So, 12  2q = 4 q = 4 p = 4 For monopolistic competition MR = MC Now, how to find MR? 


#4
May612, 10:19 PM

P: 222

Micro: Perfect and Monopolistic Competition
Never mind. I already know how to solve it. Thanks.



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