Suppose a firm assesses its profit function as = -10 - 48Q + 15Q2 - Q3.

Question:

Suppose a firm assesses its profit function as
π = -10 - 48Q + 15Q2 - Q3.
a. Compute the firm’s profit for the following levels of output: Q = 2, 8, and 14.
b. Derive an expression for marginal profit. Compute marginal profit at Q = 2, 8, and 14. Confirm that profit is maximized at Q = 8. (Why is profit not maximized at Q = 2?)