Calculate quantity total revenue and profit when the, Ask an Expert

Economics

The firm has calculated the deman functions for each market as follows:

NY market p = 150-Q

LA market p = 50-Q

Total cost function estimate = TC = 40Q.

Calculate the following:

a. quantity, total revenue and profit when the company maximizes its profit and changes 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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Business Economics, Economics

Category:- Business Economics
Reference No.:- M9448765

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