A monopolistic firm operates in two markets, with cost function TC=8Q+100 , market demand curves

Q₁=10-0.5P₁, Q₂=40-P₂

i) If the firm practice price discrimination, find the prices and quantities in each market and maximum profit for the firm.

ii) Show that the firm will charge a higher price for the market with lower demand elasticity.

iii) If firm charges a unique price for both markets, find the quantity, price and maximum profit.