Using the diagram below compare the monopoly price and quantity (label them PM and QM, respectively) to the perfectly competitive price and quantity (label them PC and QC, respectively). 
Definitions:
Present Value
The immediate monetary value of a future sum of money or cash flow sequences, utilizing a known rate of return for calculation.
Excel
A spreadsheet program created by Microsoft that allows users to organize, format, and calculate data with formulas using a system of cells arranged in rows and columns.
Calculation
The process of determining a result numerically, often involving mathematical operations and formulas.
Present Value Factor
A multiplier used to determine the present value of a future cash flow, considering the time value of money.
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