A monopolist has two sets of consumers, call them group 1 and group 2. Group 1's demand for the product is given by P(Q)= 180-Q, while that of group 2 is given by Q(P)= 84-0.6667P Group1 is described by an Inverse demand function while Group 2 is described by an demand function Suppose the two markets are treated as one, the monopolist's total quantity demanded at price 100.8 is and the marginal revenue at that price is and the monopolist's total quantity demanded at price 143 is and the marginal revenue at that price is
A monopolist has two sets of consumers, call them group 1 and group 2. Group 1's demand for the product is given by P(Q)= 180-Q, while that of group 2 is given by Q(P)= 84-0.6667P Group1 is described by an Inverse demand function while Group 2 is described by an demand function Suppose the two markets are treated as one, the monopolist's total quantity demanded at price 100.8 is and the marginal revenue at that price is and the monopolist's total quantity demanded at price 143 is and the marginal revenue at that price is
Chapter14: Monopoly
Section: Chapter Questions
Problem 14.1P
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