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What are values for total cost and total revenue at output

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A monopolist produces a single homogeneous good, which he sells in two markets between which discrimination is possible. His total cost function is:

TC = Q3 /3 - 40Q2 + 1800Q + 5000

where annual total cost is in dollars and annual output in tons. The demand curves in the two markets are given by the equations

q1 = 320 - 0.4 p1 and

p2 = A - Bq2

The monopolist achieves a profit-maximizing equilibrium at which his total output (Q = q1 + q2) is 60 tons per annum and his annual pure profit is $5,000.

Question 1: What are the values of q1 and p1 at this output?

Question 2: What are the values for total cost and total revenue at this output?

Question 3: What are the individual values for total revenue in each of the markets?

Reference no: EM132591137

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