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What is the maximum level of profit

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Suppose that a pharmaceutical company has a monopoly over the production of master cream, a drug used on skin rashes. Further suppose that the demand for master cream is given by the expression QD = 1,500 - P, where QD is the quantity demanded (in bottles) and P is the price. Assume that the company's costs are given by the expression 
TC = 100  Q2 + 5Q3.

a) What is the profit-maximizing level of output of master cream (in bottles)? 

b) What is the profit-maximizing price? 

c) What is the maximum level of profit?  

Reference no: EM13993088

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