Problem
A monopoly operates in a market where demand is given by p=40-q. It has two factories. The first one has the following cost function: c(q1)=2q1^2. The second factory has the following cost function: c(q2)=q2^2.
a. Calculate The quantity produced in each factory.
b. Calculate the profit of the firm.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.