An economist estimates the demand function as P = 1250 -15Ci. where P is in dollars and Q is in number of Treadmills sold per week. She also estimates the weekly expenses vary with output according to the following cost equation: TC = 10,000 + 250 1502 + 133 Q3. Based on these equations: a. Determine the rm's short-run profit-maximizing price and output rate. b. What are the rm's xed and variable cost? What are the rm's total revenues and total costs Is this rm making an economic prot, economic loss or a normal prot? c. Suppose intense competition brings down prices and revenues. Calculate at what prices will the firm for each of the following oases: a} Make a normal prot? b} Incurs a loss but should continue to produce in the short-run? c} lncurs a loss but should shut down? d. It has been reported that in Post-Covld period, the market for laptops and for Lenova has decreased. What strategies can the Levcnc company take besides lowering the price to increase sales as well as prots? Offer at least three specific strategies and explain how these can be cost-effective and result in higher prots