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Question 25 points (1+1+1+2) : You own and operate an ice cream shop on White Rock Pier. Assume there is no other seller selling ice cream within several kilometres of your stand. Market demand curve is given by P=600.025Q. Your marginal cost for an ice cream cup is constant at $5. Your fixed costs equal $3. a) Write the equation for your marginal revenue curve. b) Calculate and profit maximizing price and quantity. c) Calculate your profit. d) Draw a well labelled diagram clearly depicting the demand, marginal revenue and marginal cost curves. Indicate the correct vertical intercepts for Demand and MR, and clearly indicate your optimal Quantity and Price calculated in part a. Lastly shade the area depicting profits/losses for this firm