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Economics

Calculation of profit maximizing output after collusion.

Two firms produce seat covers; each firm has a cost function C(q) = 30q + 1.5q2, , the market demand for these seat covers is p = 300 - 3Q , where Q=q1+q2

It occurs to the managers of these industry that they could do better by colluding. If the collude what will be the profit maximizing output? The industry price? The output and the profit for each firm in this case.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M917857

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