Question: The monthly demand function for a product sold by a monopoly is p =18361/3 x 2 dollars, and the average cost is C =1000+16 x

The monthly demand function for a product sold by a monopoly isp=18361/3x2dollars,

and the average cost isC=1000+16x+x2dollars.

Production is limited to 1000 units andxis in hundreds of units.

(a) Find the quantity (in hundreds of units) that will give maximum profit.

(b) Find the maximum profit. (Round your answer to the nearest cent.)

$

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