(Solved): 4. For the following total-revenue and total-cos functions of a firm: TR=22Q0.5Q ...

4. For the following total-revenue and total-cos functions of a firm: $\begin{array}{l}TR=22Q?0.5Q^2\\ TC=\frac{1}{3}{Q}^3?8.5Q^2+50Q+90\end{array}$ (a) Determine the level of output at which the firm maximizes its total profit. (b) Determine maximum profit that the firm could earn. 7. Given the following cost function, determine the level of (nonzero) output at which the cost function is minimized, and the level of the costs. $MC=200?48Q+3Q^2$