What is the corresponding marginal cost equation

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A country faces two petroleum product markets, foreign and domestic and there is no resale between the two markets. The inverse demand curves for the domestic and foreign markets are expressed as follows: Domestic: Pd = 100 - 15Q Foreign: Pf=60 - 2.5Q The estimated total production costs are given by C = 10,800 + 20Q + 0.10Q2 What is the corresponding marginal cost equation? a) What are the corresponding marginal revenue and demand equations for the two markets? b) What is the total profit-maximizing level of output? c) How much should be sold to each market? d)What prices should be charged in each market?

Reference no: EM131101293

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