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Question 1 Titan Inc produces steel sheets, and its manager believes that the company to be the price leader of the industry. The demand curve

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Titan Inc produces steel sheets, and its manager believes that the company to be the price leader of the industry. The demand curve for the whole steel market is 0.1 = 100 2P and the supply curve for the small rms in the market is QS = 5 + 4P. Where Q is the number of sheets to produce daily, and P is the price charged per sheet. (a) If Titan's total cost is C = 80 + 0.75Q , at What level should Titan operate to maximize its prots? (b) What price should Titan charge? ((3) How much is the total output of the industry

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