Calculate the profit maximising price, Microeconomics

Assignment Help:

Question:

(a) Assume a firm operates in one location but serves on two distinct markets, namely, 1 and 2. The demand functions are:

Market 1: P1 = 40 - 0.3 Q1
Market 2: P2 = 60 - 2 Q2

And, the total cost function is given as:

TC = 100 + 0.15 Q

Calculate the profit maximising price and output for each market.

(b) Diagrammatically describe part (a).

(c) Describe the conditions under which price discrimination is feasible.


Related Discussions:- Calculate the profit maximising price

Externalities, what is externalities and market inefficiency

what is externalities and market inefficiency

Iso cost, schedule and diagram of iso cost

schedule and diagram of iso cost

Bayesian Nash Equilibrium, Consider 2 firms i=1,2 producing quantities q1 a...

Consider 2 firms i=1,2 producing quantities q1 and q2 respectively. Let the market price be given by P=a-b(q1+q2). Firm 1''s Marginal cost c is common knowledge but 2''s cost is no

Marxism, Hi, Can you help with writing ten pages, each page deferent topics...

Hi, Can you help with writing ten pages, each page deferent topics about Karl Marx economic views. It will be in english as a second language. Nothing fancy. Just simple straight

Find the marginal products of capital and labour, A farmer produces maize a...

A farmer produces maize according to the following production function Q m = AK 1/3 L 2/3 Where Q m is output of maize, A = land, K = capital and L = labour Given that

Theories of common property resource management, Normal 0 false...

Normal 0 false false false EN-IN X-NONE X-NONE MicrosoftInternetExplorer4

Economics, what is the differences between utility theory, indifference the...

what is the differences between utility theory, indifference theory and revealed preference theory

Assignment, Individual Assignment ECO101 - PRINCIPLES OF ECONOMICS elect...

Individual Assignment ECO101 - PRINCIPLES OF ECONOMICS electronic submission via Moodle 6 Questions 100 marks (15% of total course) All questions should be attempted. 30-50 w

Production Possibility schedule, If at point A sacks of rice is 205 and sac...

If at point A sacks of rice is 205 and sacks of corn is 0. What is the decrease in rice production?

Time serie, uses of time series in indian economy

uses of time series in indian economy

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd