Project-Based Learning

Questions

1. Graph all types of costs in two separate graphs: one graph for total costs and another for average costs and marginal cost.
2. Write your comments and conclusions. Chapter 06: Market Structure and Competition - What is the market structure under which your business is operating? Is it under perfect competition? Or Monopoly? Or Monopolistic Competition? Or Oligopoly? - Based on the market structure of your business, logically, numerically, and graphically answer the following requirements:
3. Inverse Demand (P) and Cost (C) Functions
4. Calculate the Total Revenues (TR).
5. Calculate the Marginal Cost (MC).
6. Identify Equilibrium quantity and price, i.e., profit maximizing output and price (Q* and P*).
7. Calculate Economic Profit (π).
8. Represent the solution graphically. Chapter 07: Pricing Strategies - Apply two of the Pricing Strategies that were covered in our class. Pick up two pricing strategies and apply them (logically, numerically, and graphically) to your project.