What is the current profits of the two firms

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Inverse demand function is P = 10-2Q (in millions) Firm 1 has a marginal cost of $2 and Firm 2 has a marginal cost of $6. Current market price is $8 - each firm has 50 percent of the market and each firm has to pay one year's rent of $1 million. What is the current profits of the two firms?

Reference no: EM13208827

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