Assume that a competitive firm has the total cost function:

TC=1q

3

40q

2

+740q+1600

TC=1q3-40q2+740q+1600

Suppose the price of the firm's output (sold in integer units) is $650 per unit.

Create tables (but do not use calculus) with columns representing cost, revenue, and profit to find a solution.

1. How many units should the firm produce to maximize profit?
2. What is the total profit at the optimal output level?