You are the manager of a firm that sells a "commodity" in a market that resembles perfect competition, and your analytics team estimates that your cost function is C(Q) = 2Q + 2Q2. Unfortunately, due to production lags, you must make your output decision prior to knowing for certain the price that will prevail in the market. You believe that there is a 75 percent chance the market price will be $300 and a 25 percent chance it will be $500. a. Calculate the expected market price. b. What ouptut should you produce in order to maximize expected profits? units c. What are your expected profits