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12-03-2024
Business

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Two identical firms produce an identical product, and they are the only firms in this market. Their total annual costs are given by TC1 = 300 - 15q1 and TC2 = 200 - 25q2, where q1 is the output of firm 1, and q2 is the output of firm 2. What are the total annual costs for firm 1 and firm 2?

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