Roach Motors Is the Dominant Used-Car Dealer in a Small

Roach Motors is the dominant used-car dealer in a small Midwestern city.After paying $50,000 for overhead, Roach Motors' cost per car is $500.There are 5 other small used-car lots in this town, but since they are not large enough to purchase cars through the same discount sources as Roach, each firm faces the cost function C = 5,000 + 700Q + 5Q².The demand for used cars is Q = 500 - P₁/10.Assuming Roach is aware of its competitors' costs, what price should Roach set for a used car?

A) $1,325
B) $616.67
C) $958.33
D) $729.17
E) $1,675