Question: help!! (Note: For the first question of this problem set (parts a to d) use EXCEL to generate numbers. Replace the below table with your

help!! (Note: For the first question of this problem set (parts a to d) use EXCEL to generate numbers. Replace the below table with your answers ON THIS SHEET. Similarly, in the rest of the assignment you may use EXCEL, but if you do so, insert figures and tables from EXCEL onto this sheet. 1. Consider the total profit function p = TR - TC = (22 Q)Q (10+2Q+Q2 ) a. Create a table that shows Total Revenue, Total Cost and Total Profit, (in your table, let quantity run from 0 to 13 in increments of 1.) Indicate in your table where both total profits and total revenues are maximized Q TR TC Tp 0 1 2 3 4 5 6 7 8 9 10 11 12 13 b. Next illustrate with a graph on the following page the relationship between TR and TC (Hint set the vertical axis max on your graph at 210) On your graph, -highlight the point where total revenues are maximized. -show how profits may be seen from the TR and TC curves. -highlight the point where total profits are maximized. What is the relationship between MR and MC at this point? (Note: Do NOT draw separate lines for MR, MC or profits) c. Next, create a table showing marginal revenues, marginal costs and marginal profits. Indicate in this table where TOTAL profits are maximized and where TOTAL REVENUES are maximized. (NOTE: You should take derivatives to calculate MR and MC. Again, please let quantity run from 0 to 13 in make increments of 1) Q MR MC Mp 0 1 2 3 4 5 6 7 8 9 10 11 12 13 d. Finally, construct a graph that illustrates the relationship between marginal revenue and marginal cost. On your graph show the point where TOTAL profits are maximized show the point where TOTAL revenues are maximized

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