1. The Gap Company wants to start making leather coats for the Fall/Winter season. In order to do so it needs to buy additional equipment at a cost of $750,000. The company estimates that the coats will be able to sell for at least $120 on average. The leather and other materials used in each coat cost on average $65. The labor and electricity required to make each coat (combined) costs $10. a. Calculate the breakeven quantity. b. What is the profit after selling 100,000 coats? C. Suppose the costs of leather increases by $10 after the company had sold 40,000 coats, what will the profit be when they sell 100,000 coats without any change in price? d. Assume that the monthly demand for the coats was 25,000 at the price of $120 and the price elasticity of demand is -1.5. What will the new demand for coats be if the price is increased to $140 next month