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microeconomics 1. (10 marks) Suppose now Elmo and Grinch venture into sparkling mineral water business in a small country where sparkling mineral water is difcult

microeconomics
1. (10 marks) Suppose now Elmo and Grinch venture into sparkling mineral water business in a small country where sparkling mineral water is difcult to grow. The demand for sparkling mineral water is given by p a 360 - 0.20 where p is price and Q is the total quantity sold. The industry consists at just the two Coumot duopolists. Elmo and Gr'nch. Imports are prohibited. Grinch has constant marginal costs of RM15 and Elmo has marginal costs oi RM75. How much each rm will produce in equilibrium

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