Sheet1
| Perfect Competition | | | | | Price = | $7.00 | | | TC = 6.25 Q + .25 Q2 |
| Number of Units Sold | Total Revenue | Marginal Revenue | Marginal Cost | | Total Cost | TR - TC = Profit |
| 0 | $0.00 | | | | $0.00 |
| 1 | $7.00 | $7.00 | $6.50 | | $6.50 | $0.50 |
| 2 | $14.00 | $7.00 | $7.00 | | $13.50 | $0.50 |
| 3 | $21.00 | $7.00 | $7.50 | | $21.00 | $0.00 |
| 4 | $28.00 | $7.00 | $8.00 | | $29.00 | -$1.00 |
| 5 | $35.00 | $7.00 | $8.50 | | $37.50 | -$2.50 |
| 6 | $42.00 | $7.00 | $9.00 | | $46.50 | -$4.50 |
| | | ) |
| | | | P = 20 - | 2.50 | Q |
| Less-than-Perfect Competition | | | | | | | | | TC = 6.25 Q + .25 Q2 |
| Number of Units Sold | Total Revenue | Marginal Revenue | Marginal Cost | | Total Cost | TR - TC = Profit |
| 0 | $0.00 | $0.00 | | | $0.00 | $0.00 |
| 1 | $17.50 | $17.50 | $6.50 | | $6.50 | $11.00 |
| 2 | $30.00 | $12.50 | $7.00 | | $13.50 | $16.50 |
| 3 | $37.50 | $7.50 | $7.50 | | $21.00 | $16.50 |
| 4 | $40.00 | $2.50 | $8.00 | | $29.00 | $11.00 |
| 5 | $37.50 | ($2.50) | $8.50 | | $37.50 | $0.00 |
| 6 | $30.00 | ($7.50) | $9.00 | | $46.50 | -$16.50 |
Marginal Revenue 7 7 7 7 7 7 #REF! 1 Marginal Cost 6.5 7 7.5 8 8.5 9 Marginal Revenue 17.5 12.5 7.5 2.5 -2.5 -7.5 #REF! 1 Marginal Cost 6.5 7 7.5 8 8.5 9