1.The relationship between a firm's profit ()in 000's and the selling price pof its product is:

= (p + 67)(p 195)

a)What are the break-even points for this company?

b)What is the profit when p=85 and when p=200

c)What is the profit maximizing price and corresponding level of profit?

d)Sketch a clear graph of profit against price. You should highlight the breakeven point and the point at which profits are maximised on your graph.