You can draw the graphs by hand, take a picture and then attach them or download and alter my power point slides under the Perfect Competition and Monopoly Lectures and submit the altered graphs.
HW Assignment 7- Perfect Competition (MO 1,2)
1.List all of the characteristics of a PC Firm. (20 points).
2.Using Hot Dogs, Graph (side by side) the market graph (worth 40 points) and the individual graph (worth 40 points) of Price, Quantity, Supply, Demand, MR, ATC, MC and the Short run and long run profits for Hot Dogs.
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You can draw the graphs by hand, take a picture and then attach them through an email or download and alter my power point slides under the Perfect Competition and Monopoly Lectures and submit the altered graphs.
HW Assignment 8 – Monopoly (MO 1,2)
1. List all of the characteristics of a Monopoly – 30 points.
2) Using DeBeer’s Diamonds, Graph a Monopoly showing the Price, Quantity, Demand, MR, ATC, MC and Profit for Diamonds. 30 points
3) Compare and Contrast the Price, Quantity, ATC, Profit for a Monopoly and a PC firm. Who has a higher price, quantity, ATC, and profit? Who is more efficient and why? 40 points
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