Hitachi TV, Inc., is a Miami-based importer and distributor of 60-inch screen HDTVs for residential and commercial customers. Revenue and cost relations are as follows:

TR = $160Q - $0.05Q²

MR =DTR/DQ = $160 - $0.1 Q

TC =$75,000 + $5Q + $0.0125Q²

MC= DTC/DQ = $5 + $0.025Q

1. Calculate output, price, and profit at the average cost-minimizing activity level.
2. Calculate output, price, and profit at the profit-maximizing activity level.
3. Calculate the level of output and price that will maximize sales revenue. What is the profit associated with this activity level?
4. Plot Hitachi's demand curve, marginal revenue curve, marginal cost curve, and average cost curve on the same graph (quantity on the horizontal axis). Show your graphical solutions to parts A, B, and C on this graph