Profit Maximization. Use the non-linear demand function from the previous question and the same cost function as you used before to answer the questions below.
Non-Linear demand function: $Q(P) = \frac{6,422,528}{P^2}$
Cost function: $C(x) = 28,000 + 8x$
A. Calculate your firm's profit function.
B. Calculate the profit maximizing quantity ($Q^*$) and price ($P^*$).
Hint: For taking derivatives $\sqrt{p} = p^{\frac{1}{2}}$. Note that you can use rule 3 for derivative with fractions as well as integers.
C. Calculate profits at the profit maximizing price and quantity.
