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Direct demand functions for us and japanese

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Reference no: EM132909144

Suppose that Sony is a monopoly in the production of the AIBO. It produces in a single plant that has constant AC=MC= 20.

Sony has two demand functions, one for the US market and one for the Japanese market. The direct demand functions for the US and Japanese markets are respectively: Qus =100 - Pus Qj = 40 - .5 Pj

What will be the profit-maximizing quantity that Sony will sell in each market, and what will be the price it will charge for the Aibo in each market? Calculate profits

Calculate the elasticities of demand in each market. Does your result make sense given the prices you found for the two markets? Explain in a sentence or two. Note, you can assume that the differences in the two prices is not attributable to differences in costs.

Reference no: EM132909144

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