Q = 8.5 – 0.05P, where Q is measured in tons. DRQ #2: September 15, 2009 Hill’s Pet Nutrition, Inc. is an international manufacturer of pet food. The demand for pet food is given by: Q = 8.5 – 0.05P, where Q is measured in tons. (2pts) (a) What is the inverse demand function? (2pts) (b) Set up the revenue function in terms of Q. (2pts) (c) Suppose that TC = 100 + 38Q, where TC stands for total cost. Set up the profit function in terms of Q. (2pts) (d) Find the value of Q that maximizes profit. (1pt) (e) What price should Hill’s Pet Nutrition, Inc. charge per ton of pet food?($/ton) (1pt) (f) Calculate the maximum profit obtainable for Hill’s Pet Nutrition, Inc.