Consider a market with demand given by D(p) = 100 2p. Any firm in the market has the same cost function: T C(q) = q2 + 10

Evaluate whether each of the following is smaller, equal or greater in the case where the firm is a monopoly v. the case where the firm is in a perfectly competitive market. 1. Marginal cost 2. Average cost

3. Total revenue 4. Price per unit 5. Quantity produced 6. Consumer surplus 7. Producer surplus 8. Total surplus