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By producing and selling Q units of some commodity, a firm earns total revenue R(Q) = -0.0016Q- + 44Q and incurs a cost of C(Q)

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By producing and selling Q units of some commodity, a firm earns total revenue R(Q) = -0.0016Q- + 44Q and incurs a cost of C(Q) = 0.0004Q2 + 8Q + 64000. (a) What production level maximizes profits? (b) The elasticity of C(Q) with respect to Q is estimated to be 0.12 for Q = 1000. Interpret this result in words

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