Do It Yourself Weather Systems sells a monitoring and weather predicting system so that you don't have to stay up and watch the comedian-wanna-be weather person on your late news. It estimates the monthly quantity demanded for its complete kit to be represented by the equation:
P = 100 - .6Q, where P is price of the whole kit.
Its monthly cost function is
STC = 2100 - 8Q +.6Q2.
Determine the profit maximizing quantity sold and the price for the kit. How much will the maximum monthly profit be?
Correct Answer:
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