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?