4. (15 points) A firm is planning to manufacture a new product. As the selling price is increased, the quantity that can be sold decreases. Numerically the sales department estimates: P = $350Q-Q where P-selling price per year, Q-quantity sold per year 08 On the other hand, management estimates that the fixed cost is $15,000 per year and the variable cost per year is $50/unit. C=50 Q +15,000 The firm's management wishes to maximize profit. What quantity should the decision makers plan to produce and sell each year and what profit will be earned? What is the breakeven point?