Question: ch8q8 A monopolist's inverse demand function is estimated as P=3502Q. The company produces output at two facilities; the marginat cost of producing at facility 1

ch8q8

A monopolist's inverse demand function is estimated as P=3502Q. The company produces output at two facilities; the marginat cost of producing at facility 1 is MC1(Q1)=2Q1. and the marginal cost of producing at facility 2 is MC2(Q2)=7Q2. a. Provide the equation for the monopolist's marginal revenue function. (Hint: Recall that Q1+Q2=Q ) MA(G)=Q1Q2 b. Determine the profit-maximizing level of output for each facility. Instructions: Round your response to two decimal places. Output for facility 1 Output for facillity 2 c. Determine the proffi-maximizing price. Instructions: Round your response to the nearest penny (two decimal places)

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