Question: Given , Estimate consumer and producer surplus under perfect competition and under monopoly. What is the dollar value of each, and of total social surplus?

Given

Given , Estimate consumer and producer surplus under perfect competition and under

monopoly. What is the dollar value of each, and of total social,

Estimate consumer and producer surplus under perfect competition and under monopoly. What is the dollar value of each, and of total social surplus? Which is better for consumers? Which is better for producers? Which is better for society? Explain.

MU Cassoulet, Marginal Cost and Marginal Revenue \begin{tabular}{|r|r|r|} \hline \multicolumn{1}{|l|}{ Dinners } & \multicolumn{1}{l|}{ MU } \\ \multicolumn{1}{l|}{ Cassoulet } & \multicolumn{1}{l|}{ Workers } \\ \hline 1 & $48.00 & 0.20 \\ \hline 2 & $46.00 & 0.45 \\ \hline 3 & $43.70 & 0.75 \\ \hline 4 & $41.00 & 1.15 \\ \hline 5 & $38.00 & 1.65 \\ \hline 6 & $35.62 & 2.25 \\ \hline 7 & $32.90 & 3.00 \\ \hline 8 & $29.70 & 3.90 \\ \hline 9 & $26.73 & 5.05 \\ \hline 10 & $24.06 & 6.45 \\ \hline 11 & $21.65 & 8.10 \\ \hline 12 & $19.49 & 10.25 \\ \hline 13 & $17.54 & 12.90 \\ \hline 14 & $15.78 & 16.55 \\ \hline \end{tabular} MU Cassoulet, Marginal Cost and Marginal Revenue \begin{tabular}{|r|r|r|} \hline \multicolumn{1}{|l|}{ Dinners } & \multicolumn{1}{l|}{ MU } \\ \multicolumn{1}{l|}{ Cassoulet } & \multicolumn{1}{l|}{ Workers } \\ \hline 1 & $48.00 & 0.20 \\ \hline 2 & $46.00 & 0.45 \\ \hline 3 & $43.70 & 0.75 \\ \hline 4 & $41.00 & 1.15 \\ \hline 5 & $38.00 & 1.65 \\ \hline 6 & $35.62 & 2.25 \\ \hline 7 & $32.90 & 3.00 \\ \hline 8 & $29.70 & 3.90 \\ \hline 9 & $26.73 & 5.05 \\ \hline 10 & $24.06 & 6.45 \\ \hline 11 & $21.65 & 8.10 \\ \hline 12 & $19.49 & 10.25 \\ \hline 13 & $17.54 & 12.90 \\ \hline 14 & $15.78 & 16.55 \\ \hline \end{tabular}

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