Compare the demand conditions in each market

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Reference no: EM133341628

Question: As with the PPT slides, you can view the data generating these lines; for reference,

D1 = 300 - 0.1Q

D2 = 450 - 0.1Q

MRT = 375 - 0.1Q

DT = 375 - 0.05Q

MC = 0.00017Q^2 - 0.35Q + 291.875

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

b. How much total output should the firm produce (for both markets combined)? How should that output be allocated between markets 1 and 2?

c. What price should the firm charge in each market?

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