1. The revenue and cost function of a firm are given by R(Q) = 1200Q - 2Q- and C(Q) = Q' - 61.250- + 1528.5Q + 2000. (a) Set up the first-order conditions to find the stationary point(s) of the profit function. [10 marks] (b) Characterize the nature of the stationary points (minima or maxima). Which solu- tion Q* is a maximizing-profit output? [15 marks]