The demand for Professor Bongmore's new book is given by the function Q = 2,000 - 100p.If the cost of having the book typeset is $7,000, if the marginal cost of printing an extra copy is $4, and if he has no other costs, then he would maximize his profits by
A) having it typeset and selling 800 copies.
B) having it typeset and selling 1,000 copies.
C) not having it typeset and not selling any copies.
D) having it typeset and selling 1,600 copies.
E) having it typeset and selling 400 copies.
Correct Answer:
Verified
Q45: The demand curve facing a monopolist is
Q46: A monopolist faces a constant marginal cost
Q47: A profit-maximizing monopolist has the cost schedule
Q48: A certain monopolist has a positive marginal
Q49: A monopolist faces a constant marginal cost
Q51: A firm has invented a new beverage
Q52: A firm has invented a new beverage
Q53: A profit-maximizing monopolist faces a demand function
Q54: Charlie can work as many hours as
Q55: A profit-maximizing monopolist has the cost schedule
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents