Demand function for profit maximizing monopolists good

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Reference no: EM131101674

Suppose the demand function for a profit maximizing monopolists good is P = 160 - 0.5Q, its total cost function is TC = 20 + 10Q + 0.3Q2, and its marginal cost function is MC = 10 + 0.6Q. If the firm uses a uniform pricing strategy, then rounded to the nearest unit of output and to the nearest dollar the firm will:

A. produce 94 units of output, charge a price of $113, and earn a total profit of $7011

B. produce 94 units of output, charge a price of $113, and earn a total profit of $5894

C. produce 110 units of output, charge a price of $98, and earn a total profit of $8237

D. produce 110 units of output, charge a price of $98, and earn a total profit of $6030

Reference no: EM131101674

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