A firm has the following total cost and demand functions: C = \(\frac{1}{3}\) Q3 - 7Q2 + 111Q + 50, Q = 100 - P, then find the profit maximizing level of output (Q*) and maximum profit of the firm.
1
50 and 100
2
111 and 2150
3
11 and \(111\frac{1}{3}\)
4
7 and 84