P1 = 56 – 4q1 P2 = 48 – 2q2 The monopolist's joint cost function is C(q1, 42) qỉ + 5q,92 + qż

Economics:
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Author:BOYES, William
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Chapter28: Antitrust And Regulation
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Problem 8E
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Suppose that a monopolist offers two different products with demand functions
P1 = 56 – 491
P2
48 – 292
The monopolist's joint cost function is
C(q1, 92)
qỉ + 5q192 + q?
a. Write out the monopolist's profit function as a function of q, and q2.
Transcribed Image Text:Suppose that a monopolist offers two different products with demand functions P1 = 56 – 491 P2 48 – 292 The monopolist's joint cost function is C(q1, 92) qỉ + 5q192 + q? a. Write out the monopolist's profit function as a function of q, and q2.
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