Suppose that the dollar cost of producing q appliances is C(q) = 8000 0.05 q + 0.3q2 and the demand function is given by p = 20 0.025q Use otMAIIAB or Mathematica are recommended. answer the question 1. Develop the total revenue, total cost (if not given), and prot mctions. Explain these Jnctions in few sentences. 2. Develop a 2D plot for demand versus the price. What do you notice? 3. Develop a 2D plot for total cost versus the quantity; average cost versus the quantity; marginal cost versus the quantity; and marginal revenue versus quantity on the same graph. What do you notice? Compute the demand elasticity when price equal to 4. Interpret your result. Find the quantities that maximize the total revenue and prot. Interpret your result. Find the quantity that minimize the total cost function. Interpret your results. Discuss the results of 6 and 7. What is the price that maximizes the prot? Interpret your result. What IS the maximum prot? Explain clearly your result. 0. Provide a simple conclusion that would explain what you have learned. 7509089913