Business, 27.10.2021 02:50, WarriorWolf3773

A firm sells some output in a perfectly competitive market, where the price is $60 per unit, and some on a market in which it has a monopoly, with a demand function p2 = 100 − q2, where q2 is output in the monopoly market. Its total-cost function is C = (q1 + q2)2, where q1 is output in the competitive market. Find the profit-maximizing outputs in the two markets and discuss the nature of the equilibrium. Suppose now that the price in the competitive market falls to $10. Find the new profit-maximizing solution, and discuss how it compares with the original one.

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A firm sells some output in a perfectly competitive market, where the price is $60 per unit, and som...