Make sure you show me all of your computations (TR, TC, and your partial derivatives).

You will be using the same data for the Cournot and Cartel problem.  Find the quantities for both firms in both market types that maxes profit.  As a stretch question how much profit does each Cournot firm make and what is the joint profit for the cartel.

Assume:

1. Market demand:  P = 100 -.5Q₁ - .5 Q₂
2. TC₁ = 4Q₁   and TC₂ = .25Q₂²

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