The demand functions faced by a firm in two different, Ask an Expert

Economics

The demand functions faced by a firm in two different markets are: Q1 = 600 – 10 p1 and Q2 = 800 – 10 p2. The firm has constant marginal costs of production equal to $20.

-Write the profit function

-Find the optimal prices and output if the firm price discriminate in the third degree.

-Calculate the price elasticities of the demand in both markets.

-Find the optimal price under uniform pricing (ie. Set the same price in both markets)

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91867049

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