(section 2. 2) This is another question from my math homework due at 5, and I have attached my equation "cheat-sheet" please help me! 318.4 SummarySuppose you produce and sell Things. The following table summarizes the terms we'velearned so far relating to revenue and cost. Assume you are given a graph of total costTC(q) and total revenue TR(q) for producing and selling q Things.GraphicalInterpretationRelated equations andTermDefinitionformulasthe total amount you spendto produce q Thingstotal costTC(q) = V C(q)+ FCTC(q)the money you spend toproduce q Things withoutincluding fixed coststhe graph of VC has thesame shape as TC and goesthrough the originvariable costVC(q) = TC(q) – FCVC(q)the money you must spendeven if you produce 0 Things;the vertical distance betweenFC = TC(q) – VC(q)FC = TC(0)fixed costthe TC and VC graphs OR the"y"-intercept of the TC graphFCalso known as overheadaverage costAC(q)total cost averaged over thenumber of Things producedthe slope of the diagonal linethrough the TC graph at qTC(q)AC(q)averagevariable costvariable cost averaged overthe number of Thingsproducedthe slope of the diagonal linethrough the VC graph at qVC(q)AVC(q)AV C(q)the slope of the least steepdiagonal line that intersectsthe TC graphthe slope of the least steepdiagonal line that intersectsthe VC graphthe slope of the secant linethrough TC (or VC) at qand q+1breakeventhe smallest value of averagepriceВЕРcostshutdownthe smallest value of averagepricevariable costSDPmarginal costMC(q)(see footnote)the incremental rate of(q+1)—ТC(q)MC(q)change in TC from q to q+ 1Thingstotal revenuethe total amount you receivewhen you sell q ThingsTR(q)averagetotal revenue averaged over thenumber of Things sold; alsoknown as price per Thingthe slope of the diagonal linethrough the TR graph at qTR(q)AR(q)revenueAR(q)the slope of the secant linethrough the TR graph at qand q+1the incremental rate ofmarginalrevenue MR(q) | change in TR from q to q +1(see footnote)MR(q)TR(q+1)–TR(g)Thingsthe vertical distance betweenprofitP(q)the money you are left withafter subtracting total costfrom total revenueTR and TC (whenTRTC)P(q) = TR(q) – TC(q)NOTE: If q is measured in hundreds or thousands of Things, the definitions, formulas, andgraphical interpretations of marginal revenue and marginal cost must be adjusted appro-priately. You sell Blivets on a sliding-price scale. Price per Blivet p in dollars is given by a linear function of q Blivets. You charge $24 each for an order of 1 Blivet and $18 each for an order of 13 Blivets.a.) Find the linear formula for price per Blivet as a function of quantity q.p=b.) Write out the formula for your total revenue for an order of q Blivets.TR(q)=TR(q+1)-TR(q)c.) Recall that marginal revenue at q is given by MR(q)=-and compute the marginal revenue for selling 10 Blivets.dollars per Blivetd.) The Blivets cost $5 each to manufacture and you have fixed costs of $100. Give the formula for the total cost to produce q Blivets.TC(q)=e.) What is the maximum profit? Include units. (Assume that you cannot sell a fraction of a Blivet. The quantity that maximizes profit must be a whole number.)

Question

(section 2. 2) This is another question from my math homework due at 5, and I have attached my equation &#34;cheat-sheet&#34; please help me! 318.4 SummarySuppose you produce and sell Things. The following table summarizes the terms we'velearned so far relating to revenue and cost. Assume you are given a graph of total costTC(q) and total revenue TR(q) for producing and selling q Things.GraphicalInterpretationRelated equations andTermDefinitionformulasthe total amount you spendto produce q Thingstotal costTC(q) = V C(q)+ FCTC(q)the money you spend toproduce q Things withoutincluding fixed coststhe graph of VC has thesame shape as TC and goesthrough the originvariable costVC(q) = TC(q) – FCVC(q)the money you must spendeven if you produce 0 Things;the vertical distance betweenFC = TC(q) – VC(q)FC = TC(0)fixed costthe TC and VC graphs OR the&#34;y&#34;-intercept of the TC graphFCalso known as overheadaverage costAC(q)total cost averaged over thenumber of Things producedthe slope of the diagonal linethrough the TC graph at qTC(q)AC(q)averagevariable costvariable cost averaged overthe number of Thingsproducedthe slope of the diagonal linethrough the VC graph at qVC(q)AVC(q)AV C(q)the slope of the least steepdiagonal line that intersectsthe TC graphthe slope of the least steepdiagonal line that intersectsthe VC graphthe slope of the secant linethrough TC (or VC) at qand q+1breakeventhe smallest value of averagepriceВЕРcostshutdownthe smallest value of averagepricevariable costSDPmarginal costMC(q)(see footnote)the incremental rate of(q+1)—ТC(q)MC(q)change in TC from q to q+ 1Thingstotal revenuethe total amount you receivewhen you sell q ThingsTR(q)averagetotal revenue averaged over thenumber of Things sold; alsoknown as price per Thingthe slope of the diagonal linethrough the TR graph at qTR(q)AR(q)revenueAR(q)the slope of the secant linethrough the TR graph at qand q+1the incremental rate ofmarginalrevenue MR(q) | change in TR from q to q +1(see footnote)MR(q)TR(q+1)–TR(g)Thingsthe vertical distance betweenprofitP(q)the money you are left withafter subtracting total costfrom total revenueTR and TC (whenTR>TC)P(q) = TR(q) – TC(q)NOTE: If q is measured in hundreds or thousands of Things, the definitions, formulas, andgraphical interpretations of marginal revenue and marginal cost must be adjusted appro-priately. You sell Blivets on a sliding-price scale. Price per Blivet p in dollars is given by a linear function of q Blivets. You charge $24 each for an order of 1 Blivet and $18 each for an order of 13 Blivets.a.) Find the linear formula for price per Blivet as a function of quantity q.p=b.) Write out the formula for your total revenue for an order of q Blivets.TR(q)=TR(q+1)-TR(q)c.) Recall that marginal revenue at q is given by MR(q)=-and compute the marginal revenue for selling 10 Blivets.dollars per Blivetd.) The Blivets cost $5 each to manufacture and you have fixed costs of $100. Give the formula for the total cost to produce q Blivets.TC(q)=e.) What is the maximum profit? Include units. (Assume that you cannot sell a fraction of a Blivet. The quantity that maximizes profit must be a whole number.)

Accepted Answer

By bartleby rules only first three subparts have been answered
Given that p is the price per blivet…