A6.1 Suppose that GNV Pool owns the only community pool in Gainesville, Florida. The market demand for annual passes to this pool is Qd = 600 - 2P where Qd is the quantity of annual passes demanded and P is the per-pass price. GNV Pool knows that its total cost of providing annual passes is TC1Q2 = 50,000 + 0.25Q2

a. What is the profit-maximizing price and quantity?

b. What is the amount of economic profit or loss?