You believe that you have a costless monopoly. Given your estimate of the one day demand for mushrooms:
Qm = 1050 - 150Pm
Where Qm = servings of fried mushroom and gravy. What price and quantity would yield you the most revenue?
A) P = $3.50, Q = 525
B) P = $3.50, Q = 1050
C) P = $7.00, Q = 525
D) P = $7.00, Q = 1050
E) none of the above
Correct Answer:
Verified
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