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I am having a bit of a problem knowing how to find total cost for this problem…please help.A music studio faces the following demand schedule when releasing the next CD by Nine Inch Nails. The studio must pay NIN $12 million to make the CD, and the marginal cost of printing the cd is $3 per disc. P is the price (in $), Q is quantity demanded, listed in millions of CDS. Calculate total revenue, marginal revenue, fixed cost, marginal cost, variable cost, total cost, and profit for each quantity listed.Here is what I have so far… and I can’t seem to go on because I don’t know how to find total cost.P | Q | TR | MR18 0 m 0 —17 1 17 1716 2 32 1615 3 45 1514 4 56 14
P Q1817161514 TR01234 MR017324556 MC VC FC 17151311 3333 36912 TC1212121212 Profit1215182124 -122142432
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