For part b, just list true or false! Thank you! You are the manager of a monopol

Question

For part b, just list true or false! Thank you!

You are the manager of a monopoly that sells a product to two groups of consumers in different parts of the country. Group 1's elasticity of demand is -5, while group 2's is -2. Your marginal cost of producing the product is $30 a. Determine your optimal markups and prices under third-degree price discrimination Instructions: Enter your responses rounded to two decimal places Markup for group t Price for group 1: $ 375 Markup for group 2 Price for group 2: $ 60

Explanation / Answer

Ans b

1. False as they are unable to resale it.

2. True because it has less than one absolute value.

3. False only one absolute value is there.

4. True as there are two different groups being there.

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