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