Is this correct please include table in the response

M Use a cell reference or a single formula where appropriate in order to receive full credit. Do not copy and paste values or type values, as you will not receive full credit for your answers. The Jam Factory makes boutique jams that it sells in specialty stores in two different cities. In City 1, the daily inverse demand function is p 1 = 12 - 0.50 , and the marginal revenue function is MR , - 12 - @1. In City 2, the inverse demand and marginal revenue functions are p 2 = 20 - Q, and MR 2 - 20 - 202. The firm's cost function is C(@) = 10 + 60, where Q =01 + 02. Thus, the firm's marginal cost of production is 6 per unit. P1 12 0.5 Q MR 12 % QI P2 20 Q2 MR 20 2 Q2 C(Q) 10 Q Q1 a) Solve for the price and marginal revenue in each city at the corresponding quantities Q = 0, 1, 2, _.12. The Jam Factory price discriminates by charging a different price in each city. Find the profit-maximizing quantities and prices. Verify that the marginal revenues are the same in each city at the profit-maximizing quantities. Determine the firm's profit. b) Calculate the price elasticity of demand in each city for each price-quantity combination. Verify that your results are consistent with Equation 10.5: PB 1+1/EA PA 1+1/58 (Hint: The price elasticity of demand for City 1 is , =-2p ,/@ ) and for City 2 is 82 - -P /@z.) 13 -2 p1 / Qi 11 -1 p2 / Q2 a) b) Q Q2 PI P2 MR MR, MC 0 0 12.0 20.0 12 20 6 11.5 19.0 11 18 6 -23.00 -19.00 2 . 11.0 18.0 10 16 6 -11.00 -9.00 10.5 17.0 9 14 6 -7.00 5.67 4 10.0 16.0 8 12 6 -5.00 4.00 9.5 15.0 10 6 -3.80 -3.00 9.0 14.0 6 8 6 -3.00 -2.33 7 8.5 13.0 6 6 -2.43 -1.86 8 8.0 12.0 4 6 -2.00 -1.50 9 7.5 11.0 2 6 -1.67 -1.22 10 10 7.0 10.0 0 6 -1.40 -1.00 11 6.5 9.0 -2 6 -1.18 .0.82 12 12 6.0 8.0 0 -1.00 -0.67 a) The firm's profit-maximizing output for City 1 is 6 when the price is 9.0 The firm's profit-maximizing output for City 2 is 7 when the price is 13.0 The maximum profit for the firm is 57 b) The value of p 2/p 1 is 1.44 and it is equal to the value of (1+1/e )/(1+1/e2) which is 1.44