Please just draw the graph for the solution mentioned below: Thanks in advance!

• To calculate marginal cost (MC) and average cost (AC), we can use the given quadratic cost function. The formula for MC is the derivative of the cost function with respect to Q, and the formula for AC is the total cost divided by Q. Therefore, we have:
• MC = d(TC)/dQ = 1.04 + 0.0072Q AC = TC/Q = 9931/Q + 1.04 + 0.0036Q
• To calculate price (P) and marginal revenue (MR), we can use the given demand curve. The formula for MR is the derivative of the demand function with respect to Q. Therefore, we have:
• P = 900 - 0.03Q MR = d(PQ)/dQ = 900 - 0.06Q
• To find the output that maximizes profit, we need to find the output where MR = MC. Setting MR equal to MC and solving for Q, we get:
• 900 - 0.06Q = 1.04 + 0.0072Q 0.0672Q = 898.96 Q = 13,375
• Therefore, the output that maximizes profit is 13,375. To find the price that maximizes profit, we can substitute Q into the demand function. Therefore, we have:
• P = 900 - 0.03(13,375) = $458.75
• To calculate the profit at this price and output level, we need to calculate total revenue (TR) and total cost (TC) and then subtract TC from TR. Therefore, we have:
• TR = PQ = $458.75 * 13,375 = $6,133,281.25 TC = 9931 + 1.04(13,375) + 0.0036(13,375)^2 = $123,031.25 Profit = TR - TC = $6,010,250.00
• To calculate the level of output that minimizes average cost, we need to find the output where AC is at its minimum. To find the minimum of AC, we can take the derivative of AC with respect to Q and set it equal to zero. Therefore, we have:
• d(AC)/dQ = -9931/Q^2 + 0.0036 = 0 Q = sqrt(9931/0.0036) = 527.46
• Therefore, the level of output that minimizes average cost is 527.46. To calculate the profit at this output level, we can substitute Q into the demand function to find the price, and then calculate TR and TC as before. Therefore, we have:
• P = 900 - 0.03(527.46) = $884.23 TR = PQ = $884.23 * 527.46 = $466,666.67 TC = 9931 + 1.04(527.46) + 0.0036(527.46)^2 = $16,666.67 Profit = TR - TC = $450,000.00
• To calculate the price and level of output that maximizes total revenue, we need to find the output where MR = 0. Setting MR equal to 0 and solving for Q, we get:
• 900 - 0.06Q = 0 Q = 15,000
• Therefore, the level of output that maximizes total revenue is 15,000. To find the price that maximizes total revenue, we can substitute Q into the demand function. Therefore, we have:
• P = 900 - 0.03(15,000) = $450.00
• To calculate the profit at this output level, we can calculate TR and TC as before. Therefore, we have:
• TR = PQ = $450.00 * 15,000 = $6,750,000.00 TC = 9931 + 1.04(15,000) + 0.0036(15,000)^2 = $174,931.00 Profit = TR - TC = $6,575,069.00
• To graph MC, AC, P, and MR as a function of output, we can use Excel ;
• The graph should show that MC intersects AC at its minimum, and that MR intersects the demand curve at the output that maximizes profit.
• The graph should also show the price and output that maximize profit, the output that minimizes average cost, and the price and output that maximize total revenue.