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Question 3 (4 points) You are given the following information about the market for Stem Sneakers The formula for Demand is as follows: ch: 100,000-500*P.

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Question 3 (4 points) You are given the following information about the market for Stem Sneakers The formula for Demand is as follows: ch: 100,000-500*P. It's Cost Function is 500,000 + 15Q Questions: (1) What is the price (P) where REVENUE is maximized? (2) What is the price (P) that maximizes PROFITS? (3) What is the QUANTITY (Q) that maximizes profits at that price? (4) What are TOTAL PROFITS at that price

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