Micro: Perfect and Monopolistic Competition

by domyy
Tags: competition, micro, monopolistic, perfect
 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
 HW Helper P: 2,274 Here's a hint the MC is the supply function.
 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?
P: 222

Micro: Perfect and Monopolistic Competition

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

 Related Discussions Calculus & Beyond Homework 13 Brain Teasers 4 Introductory Physics Homework 0 General Math 0 Current Events 5