a) What is the practice of charging different prices in different markets called?Why is it often not possible to price discriminate between markets?b) The firm has fixed costs of $20000 even if it produces nothing and it has marginal costs of $15 for
a) What is the practice of charging different prices in different markets called?Why is it often not possible to price discriminate between markets?b) The firm has fixed costs of $20000 even if it produces nothing and it has marginal costs of $15 for each unit it produces. Find the profit maximizing price and quantity sold in each market. What is the firms profit?c) Now the firm has access to a new technology with no fixed costs but slightly increasing marginal cost: MC = 0.075Q. Find the profit maximizing price and quantity sold in each market. How much will the firm produce with each technology. What is the firms profit?