Determine profit-maximizing price and quantity in market, Microeconomics

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Determine profit-maximizing price and quantity in market

A monopolist sells in two geographically divided markets, the East and the West. Marginal cost is constant at $50 in both markets. Demand and marginal revenue in each market are as follows:

Q_E = 900 - 2P_E

MR_E= 450 - Q_E

Q_W = 700 - P_W

MR_W = 700 - 2Q_W

a. Find the profit-maximizing price and quantity in each market.

b. In which market is demand more elastic?

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Microeconomics: Determine profit-maximizing price and quantity in market

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Request for Solution File

Ask an Expert for Answer!!

Microeconomics: Determine profit-maximizing price and quantity in market

Reference No:- TGS0517537

Recent Questions Asked Microeconomics

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