quote:

Originally posted by S-a-M-u-E-l if ... the industry demand curve is Q=1800-200P the inverse is P=9-0.005Q Long run Avg. Cost is $1.5 for all levels of output how do i calculate the market output, price, consumer surplus, and producer surplus both for perfect competition and monopoly?

That must be a class I've yet to take. What class is this? I'm only in my first year anyways.

Stocks, I can talk all day about.

this is intermediate microeconomics, its getting pretty rough. For some reason I'm not getting this problem

more cowbell!

ask your local crack dealer.

quote:

Originally posted by S-a-M-u-E-l if ... the industry demand curve is Q=1800-200P the inverse is P=9-0.005Q Long run Avg. Cost is $1.5 for all levels of output how do i calculate the market output, price, consumer surplus, and producer surplus both for perfect competition and monopoly?

you need to get like variables and work from there.

P = (1800 - Q)/200

then you plug in the other equation to solve for Q.

to solve for price, plug Q into the inverse P equation.

That is the monopoly price. perfect competition price is $1.5 because in that market firms are free to enter and leave and only make normal profits.

that doesnt work, because they are inverses...they are essentially the same things

lol we should make a economics thread...

wholy crap

and i thought d/s/prod. graphs were hard

*not looking forward to 2nd year microeco*

quote:

Originally posted by chadmk3 you need to get like variables and work from there. P = (1800 - Q)/200 then you plug in the other equation to solve for Q. to solve for price, plug Q into the inverse P equation. That is the monopoly price. perfect competition price is $1.5 because in that market firms are free to enter and leave and only make normal profits.

lol.

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quote:

Originally posted by S-a-M-u-E-l that doesnt work, because they are inverses...they are essentially the same things

plug P into the original equation

quote:

Originally posted by Jocker lol.

whats funny jocker ? dont see you solving much ?