RECOMMENDED!!Using graphical analysis contrast and compare the short run equilibrium

  

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 + .002Q2Find, profit max Q, TR, TC, and Profit. Monopoly:Assume P = 100- 2Q TC = 10 + 2QFind Profit max price and Quantity, profit, and elasticity at profit max.

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