A vertically integrated firm has 2 divisions; upstream and downstream divisions. The upstream division produces chemical Y, whose average total cost is ATCU = 10 + 2QU, where QUis the quantity of Y. The downstream division has its own average total cost of ATC = 20 + 3Q where Q is the quantity of the firm’s final product. There is no external market. What is the transfer price (PU)? Question 55 options:   PU = 10 + 2QU.   PU = 10 + 4QU.   PU = 20 + 3QU.   PU = 20 + 6QU.   None of the above.

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