What is the total amount of output the firm

Reference no: EM13156375

Consider the graph below. It contains 2 separate demand curves, D₁ and D₂, the marginal revenue curve associated with each one, MR₁ and MR₂, a total marginal revenue curve, MR_T, along with marginal cost. (You might want to look at page 586 in your book to get another example, only in that one the total marginal revenue curve is placed on the graph on the right...)

333_TOTAL amount of output the firm should produce.png

a. What is the TOTAL amount of output the firm should produce?

b. Approximately how much output should the firm allocate to market 1?

c. Approximately how much output should the firm allocate to market 2?

d. What is the approximate price that will be charged in market 1?

e. What is the approximate price that will be charged in market 2?

Reference no: EM13156375

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