The profit associated with the production and sale of a product is the difference between the product's revenue and the cost to produce it. (a) The cost to produce the Rolls-Royce can be estimated at...

Extracted text: The profit associated with the production and sale of a product is the difference between the product's revenue and the cost to produce it. (a) The cost to produce the Rolls-Royce can be estimated at $270 million of fixed costs (factory maintenance, equipment leasing, labor, etc.) plus $110000 per vehicle. Write profit P, in thousands of dollars, as a formula involving the prioe per vehicie, p (in thousands of dollars), and q the quantity of vehicles produced: (b) In 2011, Rols-Royce sold 3538 cars at an average price per vehicie of $200 thousand. Assume that the demand for these vehicies is proportional to the price, p, in thousands of dollars, and write a formula for the quantity of Rolls-Royce vehicles demanded as a function of p. q= D(p) = (c) Use the demand model from part (b) to rewrite your profit formula from part (a) so that P is a function of only p. P(p) = (d) At what price does the model predict break even is attained? thousand dollars Price: (e) What is the value of profit at the vertex of the quadratic? Note: This is not the company's maximum profit! Why?) thousand dollars Maximum: