Laura runs a nightclub.Given the popularity and cache of the club, she has a monopoly position in the market.The market demand curve is given by P = 120 - q.Laura has a marginal cost per drink of MC = 2q and a fixed cost FC = $150.If Laura charges the same price to all customers, what is Laura's profit?
A) $3200
B) $3050
C) $650
D) $1600
E) $1650
Correct Answer:
Verified
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