Profit-maximizing quantity of bentonite

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Suppose that the demand for bentonite is given by Q = 40 ? 0.5P, where Q is in tons of bentonite per day and P is the price per ton. Bentonite is produced by a monopolist at a constant marginal and average total cost of $10 per ton. How much profit is earned per day if the profit-maximizing quantity of bentonite is sold at the profit-maximizing price?

Reference no: EM13733371

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