Q-7 A company sells its two products A and B. The prices of products A and B are $5 and $8 per unit respectively. The material costs for A and B are $0.5 and $1.5 per unit respectively. The labour charges of $0.5 per unit is same for both of the products A and B. The fixed cost of the business is estimated as $3000.

1. Formulate the total revenue function if x1 and x2 units are sold of product A and B respectively.
2. Formulate the total cost function if x1 and x2 units are produced of product A and B respectively.
3. Formulate the total profit function if x1 and x2 units are produced and sold of product A and B respectively.
4. Calculate the total profit if 50,000 units of product A and 80,000 units of product B are produced and sold.