# Question: nigeria faces two petroleum product markets foreign and domestic and...

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Nigeria faces two petroleum product markets, foreign and domestic and there is no resale between the two markets. The inverse demand curves for the domestic and foreign markets are expressed as follows: Domestic: P_d = 100-15Q Foreign: 〖 P〗_f=60-2.5Q The estimated total production costs are given by C=10,800+20Q+〖0.10Q〗^2 What is the corresponding marginal cost equation? What are the corresponding marginal cost revenue and demand equation for the two markets? What is the total profit-maximizing level of output