Question: You are the manager of a monopoly that sells a product to two groups of consumers in different parts of the country. Analysts at your

You are the manager of a monopoly that sells a product to two groups of consumers in different parts of the country. Analysts at your firm have determined that group 1's elasticity of demand is ?6, while group 2's is ?2. Your marginal cost of producing the product is $80. a. Determine your optimal markups and prices under third-degree price discrimination.

Markup for group 1:

Price for group 1: $

Markup for group 2:

Price for group 2: $

to two groups of consumers in different parts of the country. Analysts

You are the manager of a monopoly that sells a product to twoe groups of consumers in different parts of the country. Analysts at your firm have determined that group 1's elasticity of demand is -6, while group 2's is 2. Your marginal cost of producing the product is $20. a. Determine your optimal markups and prices under third-degree price discrimination. Instructions: Enter your responses rounded to two decimal places. Markup for group 1:[ ] Priceforgroup :$[ ] Markup forgroup 2:[ ] Price for group 2:$[ |

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