Determine the total output

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Reference no: EM1372147

Two local ready mix cement manufacturers, Here and There, have combined demand given through Q = 105 - P. Their total expenses are given by TCHere = 5QHere + 0.5Q2Here and TCThere = 5QThere + 0.5Q2Here.

If they successfully collude:

Their total output will be?
Their maximum joint profits will be ?

If they cannot successfully collude and instead produce where the market price equals marginal cost

Their total output will be?
Each firm's profits will be?

Reference no: EM1372147

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