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Let's say you have a business in which you sell a single product. You have conducted market research and determined that the demand for your

Let's say you have a business in which you sell a single product. You have conducted market research and determined that the demand for your product is related to the price at which you sell it. Based on your investigations, you have found that the demand function for your product is the following: Q = 100 - 2P. Where Q represents the quantity demanded of your product and P represents the price at which you sell it. Determine the price that maximizes your total income. To do this, you are asked: a. Identify the total revenue function in terms of the price of your product. [Total Income = P * Q] (5 point) b. Remember to show your solution process and provide a clear explanation of how the total revenue function is arrived at and how the maximum is found.

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