Costs for production are made up of capital costs, which are fixed at $1211, and a per unit labor cost of $0.40. Use these costs, and the information below about the demand function, inverse demand function and cost function to complete the following questions.

Demand Function: QD= 54.42 - 0.25P

Inverse Demand: P= 217.68 - 4Q

Cost Function: 1211 + 0.40Q

1. Using the information above fill In the data for Quantity, Predicted Price, Revenue, Cost, Profit and Marginal Profit. Q should be a number you type in, the rest should be calculated using formulas, you can go as high as you want. Note that "predicted price" refers to the price predicted by the inverse demand function.

** could be more then 10 columns

Quantity	Predicted Price	Revenue	Cost	Profit	Marginal Profit

2. Continue adding rows and observe how the value for profit changes. When you find the Q that gives maximum profit, highlight that row.

3. Once you have identified Q*, fill in answers in the table below with the profit-maximizing quantity, price, profit, and marginal profit.