map(max, zip(*alist))
This first unzips your list, then finds the max for each tuple position
>>> alist = [(1,3),(2,5),(2,4),(7,5)]
>>> zip(*alist)
[(1, 2, 2, 7), (3, 5, 4, 5)]
>>> map(max, zip(*alist))
[7, 5]
>>> map(min, zip(*alist))
[1, 3]
This will also work for tuples of any length in a list.