1. A monopoly has a cost function, C(q) = 2q + 3. Men have a demand...

 

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1. A monopoly has a cost function, C(q) = 2q + 3. Men have a demand function equal to qM D = 14-3p. Women have the demand function equal to qW D = 14 - p. a. If the market was made up entirely of men, what price would you charge? b. If the market was made up entirely of women, what price would you charge? c. If the market was half men and half women but you could only charge one price, what price would you charge? (q D = 1 2 qW D + 12 qM D) d. If you could charge the men and women different prices, what prices would you charge? e. Is your answer in part d the same or different from your answers in parts a and b? Explain why. 1. A monopoly has a cost function, C(q) = 2q + 3. Men have a demand function equal to qM D = 14-3p. Women have the demand function equal to qW D = 14 - p. a. If the market was made up entirely of men, what price would you charge? b. If the market was made up entirely of women, what price would you charge? c. If the market was half men and half women but you could only charge one price, what price would you charge? (q D = 1 2 qW D + 12 qM D) d. If you could charge the men and women different prices, what prices would you charge? e. Is your answer in part d the same or different from your answers in parts a and b? Explain why.