Market Structure

Worksheet 4- Market Structure Name: Claudia Pena

Directions: Complete the worksheet and upload it to Moodle.

Consider the following graphs depicting a perfectly competitive market.

1. What is the equilibrium price and quantity in the Market?

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2. How much does the individual firm receive per unit (what is MR)?

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3. How much of the product should the firm produce to maximize profit?

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4. What is the firm’s Total Revenue at the profit maximizing quantity?

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