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April Ibarra
on Oct 14, 2024

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The demand for Professor Bongmore's new book is given by the function Q  5,000  100p.If the cost of having the book edited and typeset is $20,000, 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) not having it edited and typeset and not selling any copies.
B) having it edited and typeset and selling 2,300 copies.
C) having it edited and typeset and selling 2,500 copies.
D) having it edited and typeset and selling 4,600 copies.
E) having it typeset and selling 1,150 copies.

Edited

Modified or changed, especially to correct or improve a text, film, or recording.

Typeset

The arrangement and composition of text material with a variety of fonts, sizes, and styles for printing or digital display.

Demand Function

A mathematical expression that shows the relationship between the quantity of a good that consumers are willing and able to purchase and its price, along with other determinants of demand.

  • Utilize understanding of fixed and variable expenses to identify optimal output levels for maximizing profits.
  • Analyze how changes in demand functions affect marginal revenue and profit maximization.
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Aiden HudonOct 21, 2024
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