The following demand curve has been estimated for a monopoly firm:
Q = 1000 - 10P
where Q is the quantity sold per month and P is the price charged by the firm. If the marginal cost of the firm is constant at $40.00 per unit, at what price and quantity will the firm maximize profits?

Question

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The Answer of The following demand curve has been estimated for a monopoly firm:
Q = 1000 - 10P
where Q is the quantity sold per month and P is the price charged by the firm. If the marginal cost of the firm is constant at $40.00 per unit, at what price and quantity will the firm maximize profits?

The Following Demand Curve Has Been Estimated for a Monopoly