[SOLVED] The concept of marginal revenue
A.Purpose The concept of marginal revenue
This assignment is intended to help you learn to do the following:
1. Recognize the concept of marginal revenue and marginal cost, and calculate optimal output decisions by utilizing calculus procedures.
2. Analyze the different market structures and the optimizing conditions within each spectrum of the perfect competition, monopolistic competition, oligopoly, and monopoly models.
3. Develop specific optimal output and pricing decisions for perfect competition, monopoly, monopolistic competition, and oligopoly markets.
4. Analyze the impact of monopoly behavior in determining optimal output levels and market price that will maximize the firm’s profits, and compare with efficiency conditions to the perfect competition model.
B. Review this examples:
1. Monopolistic Competition and Monopoly spreadsheet (attached)
2. Monopoly vs. Competitive Market Equilibrium practice problem and solution (attached)
3. Perfect Competition practice problems and solution (attached)
C. Compose a document in which you:
1. Complete the problem set (attached)
2. Show all steps you used in arriving at your answer.
A.Purpose The concept of marginal revenue
This assignment is intended to help you learn to do the following:
1. Recognize the concept of marginal revenue and marginal cost, and calculate optimal output decisions by utilizing calculus procedures.
2. Analyze the different market structures and the optimizing conditions within each spectrum of the perfect competition, monopolistic competition, oligopoly, and monopoly models.
3. Develop specific optimal output and pricing decisions for perfect competition, monopoly, monopolistic competition, and oligopoly markets.
4. Analyze the impact of monopoly behavior in determining optimal output levels and market price that will maximize the firm’s profits, and compare with efficiency conditions to the perfect competition model.
B. Review this examples:
1. Monopolistic Competition and Monopoly spreadsheet (attached)
2. Monopoly vs. Competitive Market Equilibrium practice problem and solution (attached)
3. Perfect Competition practice problems and solution (attached)
C. Compose a document in which you:
1. Complete the problem set (attached)
2. Show all steps you used in arriving at your answer.
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