only answer Q9 B) 9) A monopolist sells its product in two different countries. The demand in country 1 isQ1 = 50 – 0.5P1, whereas the demand in country 2 is Q2 = 25 – 0.25P2. The firm's costfunction is C(Q) = 10 +0.5Q², where Q = Q1+Q2•a) Calculate the amount of the product that the profit maximizing monopolist should sellin each country.b) Use the determinantal test to check whether the stationary point is the firm's localmaximum, global maximum, local minimum, global minimum, or neither. Question 13Q9 b) The determinantal test suggests that the firm's profit functionis locally concave around the critical point, but not elsewhereis globally concaveis locally convex around the critical point, but not elsewhereis globally convexhas a saddle point at the critical point

Question 13 Q9 b) The determinantal test suggests that the firm's profit function is locally concave around the critical point, but not elsewhere O is globally concave O is locally convex around the critical point, but not elsewhere is globally convex

Question 13 Q9 b) The determinantal test suggests that the firm's profit function is locally concave around the critical point, but not elsewhere O is globally concave O is locally convex around the critical point, but not elsewhere is globally convex

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter28: Antitrust And Regulation

Section: Chapter Questions

Problem 8E

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