The following shows the demands and marginal revenue in two, Ask an Expert

Economics

The following shows the demands and marginal revenue in two markets, 1 and 2, for a price discriminating firm along with total marginal revenue, MR_T, and marginal cost MC:

Compare the demand conditions in each market; i.e. how do the two markets differ in their demand for the firm’s product?

Select one:

a. Both markets have equivalent demand since MC is constant in both markets.

b. Market 1 has more demand than market 2. 1 is high demanders, 2 is low demanders.

c. Market 1 has less demand than market 2. 1 is low demanders, 2 is high demanders.

How much total output should the firm produce (for both markets combined)?

How should that output be allocated between markets 1 and 2?

What price should the firm charge in each market?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91371733

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