You are the manager of a monopoly that sells a product to two groups of consumers in different parts of the country. Ana

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You are the manager of a monopoly that sells a product to twogroups of consumers in different parts of the country. Analysts atyour firm have determined that group 1’s elasticity of demand is−5, while group 2’s is −3. Your marginal cost of producing theproduct is $40.Instructions: Enter your responses rounded totwo decimal places.a. Determine your optimal markups and prices under third-degreeprice discrimination.Markup for group 1:
Price for group 1: $ Markup for group 2:
Price for group 2: $