Writers Den

Determining Equilibrium output and profits

2 companies produce the same item. The companies each
determine their own output and the combined output of the two is sold at the
market price. Company A has controls its costs better than its competitor, B.
The demand curve is P=280-2(Q1+Q2) and the cost function is C1(Q1)=3Q1 and
C2(Q2)=2Q2

Find out the followings

1) Marginal revenue for both,

2) Reaction function for both,

3) Equilibrium output,

4) Equilibrium profits.