Economics

. A tech company created a new tutoring app. It will cost them $1 each time the app is downloaded on iTunes. There are no fixed costs. The marketing department determines that the demand for the app is as follows:
Price Quantity TR MR Profit
$8 $0
7 10,000
6 15,000
5 20,000
4 25,000
3 30,000
2 35,000
1 40,000

a. Find total revenue and marginal revenue.
b. Graph Demand, MR, and MC. Shade in the deadweight loss.
c. What quantity of apps would maximize profits and what would the price be? What is the profit?
d. Suppose the tech company wanted to maximize economic welfare. What price would they charge and how much profit would they make at this price.