1. The Zinger Company manufactures and sells a line of sewing machines. Demand per period (Q) for a particular model is given by the following relationship: Q = 400 – .5P where P is price. Total costs...

Extracted text: 1. The Zinger Company manufactures and sells a line of sewing machines. Demand per period (Q) for a particular model is given by the following relationship: Q = 400 – .5P where P is price. Total costs (including a "normal" return to the owners) of producing Q units per period are: TC = 20,000 + 50Q (a Express total profits (n) in terms of Q. (b At what level of output are total profits maximized? What price will be charged? What are total profits at ) this output level?