Question: *Please answer all questions or none at all. Thanks* Question 2: Kips Auto Detailing has locations in two distant neighborhoods, Uptown and Downtown. Uptown customers

*Please answer all questions or none at all. Thanks*

Question 2: Kips Auto Detailing has locations in two distant neighborhoods, Uptown and Downtown. Uptown customers demand is given by QUT=100010P where Q is the number of cars detailed per month; Downtown customers demand is QDT=160020P. The marginal and average cost of detailing a car is constant at $20. Use negative signs where appropriate. Unless otherwise stated, round answers the the nearest one-hundredth place (0.01).

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a. Suppose Kip decides to charge the same price in both markets.

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Question 82 pts

What is his combined demand curve (leave answers as fractions)? Q= + P

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Question 92 pts

What is his combined marginal revenue curve (leave answers as fractions)? MR= + Q

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Question 101 pts

What is his optimal quantity to produce?

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Question 111 pts

What is the optimal price for Kip to charge?

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Question 121 pts

What will Kip's profits be?

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b. Suppose Kip decides to charge different prices at each location.

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Question 132 pts

What is Kip's marginal revenue curve from Uptown? MR= + Q

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Question 141 pts

What is Kip's optimal quantity from Uptown?

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Question 151 pts

What is Kip's optimal price from Uptown?

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Question 161 pts

What is Kip's profit from Uptown?

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Question 172 pts

What is Kip's marginal revenue curve from Downtown? MR= + Q

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Question 181 pts

What is Kip's optimal quantity from Downtown?

Flag question: Question 19

Question 191 pts

What is Kip's optimal price from Downtown?

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Question 201 pts

What is Kip's profit from Downtown?

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