Gina's bike company is about to market a new unique mountain bike. The company's market research indicates that the following demand schedule can be expected for this innovative product.

Q P ($) TR MR TFC TVC TC MC (thousands) (million) (per bike) (million) (million) (million) (per bike) 270 1000 280 980 290 960 300 940 310 920 320 900 330 880 340 860P ($) 1,000 980 960 940 920 900 880 860 Q (thousands) 270 280 290 300 310 320 330 340 Development costs: $50,000,000 Manufacturing planning and construction: $5,000,000 Overhead: $5,000,000 Materials: $200/bike Labor: $80/bike (10 hours at $8/hr) Important equations: TR = P*Q MR = ATR/AQ TFC = sum of fixed costs (development, manufacturing P&C, and overhead) TVC =AVC*Q (AVC comes from materials and labor per computer produced) TC = TFC + TVC MC = ATC/AQ a. Calculate TR. MR. TFC, TVC, TC, and MC for each quantity of output given in the demand schedule.b. What quantity of bikes should Gina's company produce? What price should be charged if the company wants to maximize profits? What would be the profit? c. Suppose that the company's engineers discover an error in their initial cost estimates. Manufacturing planning and construction should actually be $8,000,000. Now, what quantity should Gina's company produce? What price should be charged? What would be the profit?d. Suppose that Gina's workers decide to go on strike and win a new wage contract calling for an hourly wage of $12. What quantity should Gina's company produce? What price should be charged? What would be the profit? e. Assume that the manufacturing planning and construction costs have returned to $5,000,000, and the hourly wage has returned to $8/hr. Suppose now that an excise tax of $40 per bike is imposed. What will happen to the quantity sold, the price charged, and profits