As the manager of Smith Construction, you need to make a decision on the number of homes to build in a new residential a

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As the manager of Smith Construction, you need to make adecision on the number of homes to build in a new residential areawhere you are the only builder. Unfortunately, you must build thehomes before you learn how strong demand is for homes in this largeneighborhood. There is a 60 percent chance of low demand and a 40percent chance of high demand. The corresponding (inverse) demandfunctions for these two scenarios are P =300,000 − 400Q and P = 500,000 −275Q, respectively. Your cost functionis C(Q) = 140,000 +240,000Q.
How many new homes should you build, and what profits can youexpect?
Number of homes you should build: homes
Profits you can expect: $