A monopolistic firm operates in the U.S. No trade is possible between the NY market and the
Question:
NY Market p = 150 - Q
LA Market p = 50 - Q
The company estimates its total cost function to be: TC = 40Q.
Calculate the following:
a. quantity, total revenue and profit when the company maximizes its profit and charges the same price in both markets.
b. quantity, total revenue and profit when the company charges different prices in each market and maximizes its total profit.
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a When the company has to charge the sameprice in both markets then it will maximize its profits wit...View the full answer
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