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a) Draw the demand curve and the associated marginal revenue curves for the two individual sub-markets and the market as a whole on three sets

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a) Draw the demand curve and the associated marginal revenue curves for the two individual sub-markets and the market as a whole on three sets of axes. Indicate all the important points. b) Calculate the number of flights offered and the prices charged in each market segment, as well as the total number of flights that will be offered by the airline if it practices third degree price discrimination. Show your calculations. c) Now assume the marginal cost of the airline is dependent on Q and is represented by MC = Q The fixed cost remains at R50000000 for this question but variable cost will now change

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