1. Spectrum (formerly known as Time Warner Cable) has a monopoly on cable television service in many US cities, including Raleigh. Economists have found that the demand for cable TV can be well represented by the following equation P = 1000 - 10*Q where P is the monthly price of cable service and Q is the number of households purchasing cable each month (in thousands). Spectrum has high fixed and low variable costs which are represented by TC = 10000 + 120*Q + Q2, FC = 10000 and MC = 120 + 2*Q.
   • a) Calculate Spectrum's price, output, total revenue, total costs, and profits.