Q1. Consider a monopolist which produces two different products, each having the fo demand functions: 91 = 14 — —P₁, 1 92 = 24-P2₁ where 9₁ and 92 represent the output levels of product 1 and product 2 and pi represent their prices. The monopolist's joint cost function is given as (a) C (91, 92) = 91 +59192 +93. Write out the monopolist's profit function .

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Chapter13: Antitrust And Regulation
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Q1. Consider a monopolist which produces two different products, each having the following
demand functions:
- P₁,
91 = 14-
1
92 = 24- P2.
where 9₁ and 92 represent the output levels of product 1 and product 2 and p₁ and p2
represent their prices.
The monopolist's joint cost function is given as
C (91, 92) = 91 +59192 +92².
Write out the monopolist's profit function.
Transcribed Image Text:Q1. Consider a monopolist which produces two different products, each having the following demand functions: - P₁, 91 = 14- 1 92 = 24- P2. where 9₁ and 92 represent the output levels of product 1 and product 2 and p₁ and p2 represent their prices. The monopolist's joint cost function is given as C (91, 92) = 91 +59192 +92². Write out the monopolist's profit function.
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