Assume that the market demand is P 100 0 5 X1 X2 and the two collusive firms have costs gi...........

Economics-I Mathematical Methods in Economics

Assume that the market demand is

P = 100 - 0.5 (X₁ + X₂) and the two collusive firms have costs given by C₁ = 5X₁and $\small C_{2}=0.5X_{2}^{2}$ . Calculate the joint profit of the firms. (150 words) (12 Marks)