A firm with market power sells its annual subscriptions for premium service to two different groups of consumers.

The demand curve for group 1 is given by: P1 = 130 - 1.67Q^1

The demand curve for group 2 is given by: P2 = 230 - 6.25Q^2

The common marginal cost function is given by: MC= 30.

Please Answer and Show Steps to the Following:

a. Solve for the profit-maximizing quantities and prices for each of the two different groups of consumers.

b. Graph the respective demand, marginal revenue, and marginal cost curves in 2 separate graphs (1 graph for market 1 and a second graph for market 2).

c. Calculate the own price elasticity of demand for each group of consumers.