oods in pure competition and has the following total revenue and total cost functions: TR = P1Q1 + P2Q2 and TC = 2Q12 + Q1Q2 +2Q22 Where, P1 = 12 and P2 = 18. a)Form the profit function and ide

Problem 3 A furniture maker builds and sells wooden benches. The demand function for the benches is given by the function p = 1600 -x where p is the price per bench and x is the number of benches sold. The furniture maker also knows that the fixed costs for the business are $20,000 and each bench costs $75 to make. Part a) Create a function that represents revenue as a function of the number of benches produced and create a function that represents the cost as a function of the number of benches produced. Make sure to label your input and output variables. Part b) How many benches should be produced and sold in order to maximize revenue? What price should the furniture maker sell them? (Make sure to show your work) Part c) How many benches should be produced and sold in order to maximize profit? What is the maximum profit? (Make sure to show your work)

Please help with f.

Economics