Explain why total profits fall

Reference no: EM13133996

Two firms produce homogeneous outputs with cost functions

C₁=q₁^2

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

Derive the profit frontier, and explain why total profits fall as the firms redistribute profit between themselves by redistributing output.

Reference no: EM13133996

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