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Question
Table 15-1| Price per Unit | Quantity Demanded (units) | Total Cost of Production (dollars) |
| $85 | 10 | $530 |
| 80 | 11 | 540 |
| 75 | 12 | 550 |
| 70 | 13 | 560 |
| 65 | 14 | 575 |
| 60 | 15 | 595 |
| 55 | 16 | 625 |
A monopoly producer of foreign language translation software faces a demand and cost structure as given in Table 15-1.
Refer to Table 15-1. What is the firm's profit-maximizing output and what is the price charged to sell this output?
A) P = $85; Q = 10
B) P = $80; Q = 11
C) P = $70; Q = 13
D) P = $65; Q = 14
Answer
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