Complete the following tables and identify the market structure Q - 1,2,3,4,5, P- 20,20,20,20,20

Question

Complete the following tables and identify the market structure

Q	P	TR	AR	MR
1	20	....	....	....
2	20	....	....	....
3	20	....	....	....
4	20	....	....	....
5	20	....	....	....

 

Q	P	TR	AR	MR
1	10	....	....	....
2	9.5	....	....	....
3	9	....	....	....
4	8.5	....	....	....
5	8	....	....	....

Answer 1

Q	P	TR	AR	MR
1	20	20	20	20
2	20	40	20	20
3	20	60	20	20
4	20	80	20	20
5	20	100	20	20

This market represents a perfectly competitive market because in this market, P = AR = MR.

Q	P	TR	AR	MR
1	10	10	10	10
2	9.5	19	9.5	9
3	9	27	9	8
4	8.5	34	8.5	7
5	8	40	8	6

This market represents a monopoly market. In this market, AR and MR are different and AR > MR.