5. Exercise 14.5 Phillips Industries manufactures a certain product that can be sold directly to retail outlets or to the Superior Company for further processing and eventual sale as a completely different product. The demand function for each of these markets is Retail Outlets: P1 = 120 - 21 Superior Company: P2 = 40 - 92 where 1 and P2 are the prices charged and 21 and @2 are the quantities sold in the respective markets. Phillips' total cost function for the manufacture of this product is TC = 10 + 8(@1 + @2) What is Phillips' total profit function? O 120@1 - 212 + 40@2 - 222 - 10 O 11901 - 212 + 30@2 - Q22 - 10 O 11201 - Q12 + 3202 - Q22 O 11201 - 212 + 3202 - @22 - 10 The profit-maximizing levels of price and output for the retail outlets market are $ per unit and units respectively. The profit-maximizing levels of price and output for the Superior company are $ per unit and units respectively. At these levels of output, the marginal revenue in the retail outlets market is $ and the marginal revenue in the Superior Company market is What are the total profits if Phillips is effectively able to charge different prices in the two markets? $ If Phillips is required by law to charge the same per unit in each market, the profit-maximizing level of price and output are $ per unit and units, respectively. Total profits in this condition are $