6. A monopoly produces two goods with the following demand functions:100-2p1 +P292 = 120 + 3p1 - 5p2(a) Write down the expression of the profit function of the firm if its total costs (TC) are giverTC = 50 + 10q1 + 2042%3Dwhere q and 2 are the outputs of the two goods, and pi and p2 are the prices of the good91(b) Use Cramer's rule to find the values of pi and p2 which maximize the monopoly's profit.

Profit function is a mathematical relation between firms total profit and output. Cramer's Rule is…

(a) Write down the expression of the profit function of the firm if its total costs (TC) are giv TC 50 +10qı + 2042 %3D where q1 and q2 are the outputs of the two goods, and pi and p2 are the prices of the goo (b) Use Cramer's rule to find the values of p1 and p2 which maximize the monopoly's profit.