1. Consider the following cost and revenue functions for a city pair route that an airline is the single seller for:

C(q) = .001q³-1.8q²+ 1180q +134000

R(q) = -.859q²+ 1374.4q

a) Develop a profit function

b) At what value of q are profits at a maximum?

c) What is the revenue maximizing value of q?

d) What are the values of cost, revenue, and profit for the value in (2)?

e) What are the values of cost, revenue, and profit for the value in (3)?