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8 Cards in this Set
- Front
- Back
Given TC formula and P formula, find MC and MR.
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MC = derivate of TC
MR: TR=P*Q MR= derivate of TR |
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Given MC, AC, and P formula, find MC=MR.
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MR:
TR=P*Q MR= derivate of TR MR formula= MC |
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Find deadweight loss and overcharges (can sue)
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Deadweight loss (ABC triangle loss)=
(Qc-Qm)(Pm-Pc)(.5) overcharges (can sue)= (Pm-Pc)*Qm Total deadweight loss to society= ABC triangle loss + overcharges |
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Draw SR Competitive Graph
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Draw LR Competitive Graph
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Draw SR Monopoly Graph
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Draw NATURAL Monopoly Graph
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Draw Dominant firm graph
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