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ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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Question
Determine the
prices when a firm faces two markets where the inverse demand curves are
profit-maximizing
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Market A:
pA=120−2QA,
where demand is less elastic, and
Market B:
pB=80−0.5QB,
where demand is more elastic, and
Marginal
Cost=m=20
for both markets.
Part 2
For Market A:
pA=$enter your response here.
(Round your response to two decimal places.)Part 3
For Market B:
pB=$enter your response here.
Expert Solution
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