Consolidated companys total profit

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Reference no: EM139287

Q. Consolidated Salt company sells table salt to both retail grocery chains and commercial users (e.g. bakeries, snack food makers, etc). The demand function for each of these markets is:

Retail grocery chains: P1= 180 - 8Q1
Commercial users: P2= 180 - 4Q2

Where P1 and P2 are the prices charged and Q1and Q2 are the quantities sold in the respective markets. Consolidated Company's total cost function (which includes a "normal" return to the owners) for salt is:

c. Assuming that consolidated is required to charge the same price in each market, Illustrate what are the profit-maximizing price and output levels? Illustrate what is Consolidated Company's total profit under this condition?

Reference no: EM139287

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