A perfectly competitive firm produces two goods, X and Y, which are sold at 24 and 22 per unit, respectively. The firm has a total cost function given by TC=3x2+3xy+2y2-100 Calculate the expression of the Profit Function Find the quantities of each good which must be produced and sold in order to maximise profits. What is the maximum profit? = 1) Profit function = Blank 1x + Blank 2y - 3x2 - 3xy - 2y2 + 100 2) Profit function has a maximum when quantity of x is equal Blank 3 and quantity of y is equal Blank 4, because the second order derivative of the function profit with respect to x is (positive of negative) Blank 5 at the statoinary point, the second order derivative of the function profit with respect to y is (positive of negative) Blank 6 at the stationary point and the value of the discriminant (or determinant of the Hessian Matrix) is equal to Blank 7. 3) Maximum Profit is equal to Blank 8 (Calculate the value of the Maximum profit using the values of x and y before rounding to one decimal)