The assumption of profit maximization, where profit () is equal to the difference between total revenue (TR) and total cost (TC), is frequently used in microeconomics. To maximize profit, the firm selects the output level (Q*) where marginal revenue (MR) equals marginal cost (MC). [2] a) Determine TR from the demand function, P = 10 Q/1,000 , where P is the price. [2] b) Find the associated MR function. [2] c) Obtain the MC function from the TC function, TC(?) = 5,000 + 2?. [2] d) At what quantity of output is profit maximized?