Question: PLEASE ANSWER USING EXCEL AND SHOW THE FUNCTIONS! THANKS (1) The demand (in thousands) of a product as a function of price (in dollars) is

PLEASE ANSWER USING EXCEL AND SHOW THE FUNCTIONS! THANKS

(1) The demand (in thousands) of a product as a function of price (in dollars) is given by ()=2 2+35 for 05, and ()=0 for >5. It is estimated that the cost of making this product is $2. a) (0.5 pts) What is the size of the target market? b) (0.5 pts) Write down an expression for the total profit () of selling this product. c) (1 pt) Compute the optimal price for the product.

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