Question: help with hw. please show steps. Question 16] A monopolist faces two markets with demand functions given by cu = 60-p1, q2 = 60-2p2. The

help with hw. please show steps.

Question 16] A monopolist faces two markets with demand functions given by cu = 60-p1, q2 = 60-2p2. The monopolist has no xed costs of production, and the marginal cost of production is $6. (a) Suppose the monopolist charges the price $40 per unit of output. What is the market demand at this price? (b) Suppose the monopolist charges the price $20 per unit of output. What is the market demand at this price? (c) Write down the market demand for any price p charged by the monopolist. (d) Suppose the monopolist charges the same price per unit of output in both markets. How much output is produced? What is the price of output? What is the monopolist's profit? (e) Suppose that the monopolist charges different prices per unit of output in the two markets. How much output is produced? What are the prices? What is the monopolist's profit

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