Question: 3a.A firm's demand function is Q = 40 - 2P and its total cost function is defined as TC=100+2Q + 0.25Q 2 Calculate the (a)

3a.A firm's demand function is Q = 40 - 2P

and its total cost function is defined as TC=100+2Q + 0.25Q²

Calculate the (a) inverse demand, (b) total revenue function, (c) marginal revenue, (d) marginal cost and then (e) determine the level of output that yields the profit maximum with the given information. What is the level of profit at the optimum? (5 points)

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