Determine the profit maximizing quantity and profit levels; andthen graph (in general form) the outcomes for the productionfunction ( standard form with q(K,L) curve ) , cost/revenuefunctions (with MC, AC, and P curve/line) and profit function (profit (q) curve ) for the following all graphs have to display q*:1. C(q)=1000+q^2, P=10000 2. C(q)=1000+4q^3, P=10000 3.C(q)=1000+q^1.5, P=10000 4. Explain the differences between youroutcomes and give a plausible reason for the difference between 1& 2 and then for 1 & 3. Specifically: what changed, whatdidn't, what the effects are, and why.
