ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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Suppose a discriminating monopolist in selling a product in three separate markets

whose demand functions are

Q1 = 500 — P1,  Q2 = 150 — 0.5P2 and Q3 = 75 — 0.5P3. If its cost function is given as TC = 70,000 — 100Q.

 

As an economic adviser, determine the prices to be charged in the three markets and the

amount of output to be sold in each market so that total profits can be maximised,  henT
compute the total profit made from this strategy of price discrimination

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