Question 1 (a) Given the following total revenue and demand functions of a firm. Not yet Q = 44 - 2P answered Marked out of TC = 1/303 - 8.502 + 50Q + 90 1.00 (i) Determine the level of output at which the firm maximizes its total profit. (10 marks) Flag question (ii) Determine the profit that firm could earn. (5 marks) (b) What effect would each of the following have on the demand for gasoline in a competitive market? Explain your answer in each case by relating it to a demand determinant. (i) An increase in the number of cars. (5 marks) (ii) The economy moves into a recession