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A lawyer has two clients. She charges a yearly retainer plus a separate fee for each consultation. The retainer is a fee each client pays

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A lawyer has two clients. She charges a yearly retainer plus a separate fee for each consultation. The retainer is a fee each client pays just to secure the services of the lawyer for the following year, and the consultation fee is the pn'ce the lawyer charges to do one legal job for the client. The clients' annual demand curves for legal jobs are Client 1: Q, = 24P Client 2: {32 = 22 - 2P where P is the consultation fee in thousands of dollars for one legal job and Q,- is the number oi legal jobs done for client l. The lawers marginal cost for completing one legal job is 3.4 (also in thousands of dollars). The lawyer wants to determine the fee schedule (retainer and consultation fee) that will maximize her prot. She feels she cannot use a dierent fee schedule for each client, so she must set one retainer and one consultation fee that apply to both clients. She should charge a consultation fee of $:| thousand per legal job. (Enter your response rounded to hot.) decimal places.) She should charge a retainer of SSE thousand. (Enter your response rounded to M0 decimal places.)

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