ECO – If the market supply function of a commodity is qs

If the market supply function of a commodity is qs = 3,250 and (a) the market demandfunction is Qd = 4,750 ­ 50P and P is expressed in dollars, use excel to calculate what theequilibrium price is by calculating values of Qd and Qs for P from 25 to 50 in 1’s. (d) For(a) – (c), if TC=0.005Q^2­Q, what is the profit in each case?Revised spreadsheet problem 1: Just answer (a) and 1(d). For (d), change “For (a) to (c)” to “For (a) only.” Show all work and fill out spreadsheet.