1. SportsMart is a sports apparel department store in Hayward.The manger has estimated the weekly demand function to be P = 25 - 0.001Q where P is the price and Q is the output per week.The firm's total costs are given by TC = 4000 + 13Q + 0.002Q²and its marginal cost function is given by MC = 13 + 0.004Q.What is the firm's profit-maximizing price? ( answerwithoutthe dollar sign.)
2. SportsMart is a sports apparel department store in Hayward.The manger has estimated the weekly demand function to be P = 25 - 0.001Q where P is the price and Q is the output per week.The firm's total costs are given by TC = 4000 + 13Q + 0.002Q²and its marginal cost function is given by MC = 13 + 0.004Q.How much profit can the store make at the profit-maximizing choice of price and output?( answerwithoutthe dollar sign.)