Find the monopolists maximum profit

Reference no: EM13698161

A newspaper has a monopoly on the local news market in a town. The market demand is given by P=1.70-Q/20,000, making the marginal revenue MR=1.70-Q/10,000. The marginal cost is constant at equal to 0.80. The fixed cost is 2,000. So, the total cost is TC=2,000+0.80Q. Find the monopolist's maximum profit.(Answers must be within 9 of the true value)

Reference no: EM13698161

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