Assume you are managing the company, which produces a single product Q traded in two different regional markets. The production technology is specified via short-run cost function C(Q) = 147 + 15Q + 3Q2, where Q- the quantity of product manufactured by the company, C - the short run costs of producing Q units of product. The regional markets are different in terms of competitive position of your firm. In the first region your company faces the perfectly competitive environment and sells its product at the price P1 = 116 per unit. Unlike the first region, the company finds itself in a monopolistic position in the second region. It faces market demand curve given by the demand function P2 = 178 - 1.5Q. . Then, please, calculate: 3. Then, there was a change in an institutional 1. the total supply Q of the product to both markets and its environment of your company. The Government passed a regulation, which does not allow anymore to sell the components i.e., supply to market 1 (Q1) and market 2(Q2); product of your company (manufactured in the factory 2. the revenues and profits gained in each market as well as their located in one of the regions) on different prices in the total. country. In other words, your company have to decide at which price, i.e. either P, or P2, to sell the product in both regional markets. . What will be you decision about pricing the product? Provide justification of your choice with respective estimations