(Answered) Two rms produce homogeneous outputs with cost

Economics

Two ?rms produce homogeneous outputs with cost functions

C1=q1^2

C2=2q2^2and the inverse market demand functionp=100-(q1+q2)

Derive the pro?t frontier, and explain why total pro?ts fall as the ?rms redistribute pro?t between themselves by redistributing output.

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Microeconomics, Economics

Category:- Microeconomics
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