Aggregate demand-marginal revenue-marginal cost on single

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Reference no: EM13831503

Heterogeneous consumers. A monopolist offers a single price to two consumers with the following demand functions: p1(q1) = 120 − q1 p2(q2) = 45 − 1 2 q2. The firm experiences a constant marginal cost of production, c = 10.

a) Graph aggregate demand, marginal revenue and marginal cost on a single graph

b) Find the optimal price and resulting demands of consumers 1 and 2 (P ∗ , q∗ 1 and q ∗ 2 )

Reference no: EM13831503

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