Determine the profit-maximizingLOADING... prices when a firm faces two markets where the inverse demand curves are Market A: p Subscript Upper Aequals80minus2Upper Q Subscript Upper A, where demand is less elastic, and Market B: p Subscript Upper Bequals60minus1Upper Q Subscript Upper B, where demand is more elastic, and Marginal Costequalsmequals20 for both markets.

Market A:

Market B:

Explanation:

Market A: ........................ (1)

Market B: ........................ (2)

MC = m = 20 ............................................... (3) for both markets

For Market A:

Profit maximizing price can be obtained when  

Therefore, we have:

Substituting 50 for in equation (1), we have:

For Market B:

Profit maximizing price can be obtained when  

Therefore, we have:

Substituting 80 for in equation (2), we have:

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