1a) A firm operates two plants. The total cost schedules for the respective plants are TC₁ = 5*Q₁ + .1*Q₁² and TC₂ = 2*Q₂ + .1*Q₂². The firm's demand schedule is Q = 160 - 10*P. What is the profit maximizing output for the firm?

1b) Price is set in a market by a dominant firm price leader (L = Leader). Total Market Demand is P = 10,000-20*Q_T. The dominant firm price leader's (L = Leader or Dominant Firm) total cost is TC_L = 60*Q_L + 1.5*Q_L². The competitive fringe supply (F = Fringe) is S_F = P_L = 100 + 2Q_F. Determine the price set by the Dominant Firm. The Dominant Firm price =