Question: The monthly demand function for x units of a product sold by a monopoly is p=8000-x dollars, and its average cost is C=4000+5x dollars. (a)

The monthly demand function for x units of a product sold by a monopoly is p=8000-x dollars, and its average cost is C̅=4000+5x dollars.
(a) Determine the quantity that will maximize profit.
(b) Determine the selling price at the optimal quantity.
(c) Determine the maximum profit.

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