J & J Limited produces a single product and the company is trying to determine the effectiveness of their pricing decisions. You have been asked to develop cost functions that will assist in arriving at the optimal price that will enable the company to maximize profits. During the year, you were provided with the following demand and costs functions for the product (CLO 3):

P = 350-6Q, where P is the unit selling price and Q is quantity of units in thousands.

TC = 4Q2 + 30Q + 75, where TC is total costs in thousands of dollars.

1.The output at which profit is maximized is (in thousands)? 2.T he optimal price that maximizes profit is? 3. The optimal sales revenue is (in thousands)? 4. The total cost at optimal output is? 5. The Maximum Profit at the optimal output is?