Register to reply

Micro: Perfect and Monopolistic Competition

Share this thread:
domyy
#1
May5-12, 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
Phys.Org News Partner Social sciences news on Phys.org
Research geared to keep women from fleeing IT profession
Social class makes a difference in how children tackle classroom problems
Self-deceived individuals deceive others better
Pyrrhus
#2
May6-12, 03:11 AM
HW Helper
Pyrrhus's Avatar
P: 2,277
Here's a hint the MC is the supply function.
domyy
#3
May6-12, 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?

domyy
#4
May6-12, 10:19 PM
P: 222
Micro: Perfect and Monopolistic Competition

Never mind. I already know how to solve it. Thanks.


Register to reply

Related Discussions
Prove the sum of two even perfect squares is not a perfect square Calculus & Beyond Homework 13
A competition Fun, Photos & Games 4
Show that perfect a perfect reflector is a conic section with Fermat's principle Introductory Physics Homework 0
Perfect practice makes perfect! General Math 0
Assuming perfect competition Current Events 5