Determining output-price and profits

Reference no: EM1369948

Quick Tax, Inc.,is the only tax preparation firm in Daytona Beach. Total and marginal revenue relations for small business customers are:

TR = $280Q - $0.005Q2

MR = $280 - $0.01Q

Marginal costs are stable at $100 per unit. All other costs have been fully amortized.

As a monopoly, calculate Quick Tax's output, price, and profits at the profit-maximizing activity level.

Reference no: EM1369948

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