More on profit: This is a continuation . In this exercise we use the formula for the total cost of the widget manufacturer found in Exercise 11 and the formula for the total revenue found. a. Use a...

More on profit: This is a continuation . In this exercise we use the formula for the total cost of the widget manufacturer found in Exercise 11 and the formula for the total revenue found.

a. Use a formula to express the profit P of this manufacturer as a function of N.

b. Consider the three production levels: N = 200, N = 700, and N = 1200. For each of these, determine whether the manufacturer has a loss, turns a profit, or is at a break-even point.