A monopolist faces two markets with demand functions given by q1 = 120 − p1 q2 = 120 − 2p2 The monopolist has no fixed costs of production, and the marginal cost of production is $10.   Suppose the monopolist charges the same price per unit of output in both markets. How much output is produced? What is the price of output? What is the monopolist’s profit?

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A: Q=421-2P2P=421-QP=421-Q2P=210.5-Q2Now,TR=P*QTR=(210.5-Q2)QTR=210.5Q-Q22Thus,MR=∂TR∂QMR=210.5-Q

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