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Suppose that the market demand for pumpkins is: P = 80 -

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Suppose that the market demand for pumpkins is: P = 80 -.75Q, Q is the market quantity produced. In addition, suppose that there are two firms, A and B, both who are selling pumpkins, and that both of these firms have a constant marginal and average total cost of $5. Fill in the table below for each market structure using the demand and cost functions above.

Industry profit =

Now consider how would the answers above change if the firms merged and became a monopolist who could practice 1st degree price discrimination?