ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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Question
Two local ready-mix cement manufacturers, H and T, have combined demand given by Q = 105 − P.
Their total costs are given by
TCH = 5QH + 0.5QH^2, and
TCT = 5QT + 0.5QT^2.
If they successfully collude, what is their maximum joint profits?
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