2.Suppose that there is a firm that sells the same good in two different markets and is able to prevent resale from the lower priced market to the higher priced market. The direct demand functions for the two markets are given by the following two equations: Q1=s-P1 oz= 12- to Also, the firm produces this good in one plant, so the Total Cost function is given by the following equation: TC = s + stomp) where Ql+Q1 is total Quantity a. Calculate the prot maximizing quantityr and price in market 1. Calculate the own price elasticity;r of demand for market 1 at this quantity and price. Show your work for full credit. 1:. Calculate the prot maximizing quantity and price in market 1. Calculate the own price elasticity of demand for market 1 at this quantity and price. Show vour work for full credit. c. Do the sizes of the relative elasticities of demand make sense given the relative prices in the two markets? Explain your answer. if Given an example of a price setting firm that sells the same good in two different markets for different prices