Explain From the table can we obtain a long run perfectly competitive equilibrium price and quantity?

Find the MR and MC for different quantities of production and enter your answers on the table.

Find the monopolist’s equilibrium quantity and price.

iii. Explain From the table can we obtain a long run perfectly competitive equilibrium price and quantity?

Explain why or why not. (HINT: In long run perfect competition leads to zero economic profit).

Quantity Total Revenue Total Cost MR MC
6 110 80    
7 122 85    
8 132 92    
9 140 101    
10 146 114