Jeff Boynton
Consider the following graph:Based on the above graph, answer the following questions for a monopoly and a perfectly competitive firm.
A. For the monopolist:
i. Profit maximizing output =
ii. ATC =
iii. AR =
iv. Price =
v. Total Revenue =
vi. Total Cost =
vii. Profit =

B. For the perfectly competitive firm:
i. Profit maximizing output =
ii. ATC =
iii. AR =
iv. Price =
v. Total Revenue =
vi. Total Cost =
vii. Profit =
C. Discuss the differences you observe in your answers above between the monopoly and perfectly competitive firm.