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5. What time is it now?! Watch Yourself, a firm that makes timepieces for the impatient,...

5. What time is it now?! Watch Yourself, a firm that makes timepieces for the impatient, believes its profit function is given by π = 10−48Q +15Q^2 −Q^3 .

(a) Compute the firm’s profit for output levels of 2, 8, and 14.

(b) Derive an equation for marginal profit. Compute marginal profit at output levels of 2, 8, and 14. At what output is profit maximized?

(c) Verify the profit-maximizing solution using calculus

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