Find total output produced by monopoly in equilibrium

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(Multiplant Monopoly) Consider a monopoly that faces the demand curve P=120-3Q, where Q =q1+ q2 is the total output from the two plants operated by the firm. The two plants are characterized by the total cost functions TC(q1)=10q1+10(q1)^2 and TC(q2)=60q2+2.5(q2)^2. q respectively.

(a) Find the total output produced by the monopoly in equilibrium and the equilibrium price.

(b) What is the output produced by the monopoly in each of its two plants?

Reference no: EM131388199

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