You are the manager of a monopoly that sells a product

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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 -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.  Instruction: Round your answers to two decimal places. Markup for group 1: 0.17 Price for group 1: $96 Markup for group 2: 0.5 Price for group 2: $160

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