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2. Suppose a market can be separated into two distinct markets, where P1 = 42 4Q1 and P2 = 222Q 2 are the demands in

2. Suppose a market can be separated into two distinct markets, where P1 = 42 4Q1 and P2 = 222Q 2 are the demands in each market. Total costs are given by TC = 5+10(Q1+Q2). a. Find the profit maximizing level of output and the price per unit in each segment of the market. b. Find the price elasticity of demand at the profit maximizing price

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