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 mazimized at Q=2?)
Firm's profit for the given levels of output calculated, Expression for marginal profit dervied and marginal profit calculated.