Refer to the Following:
a Firm with Market Power Faces $Q _ { d } = 39,000 - 500 P + 0.4 M - 8,000 P _ { R }$

question 37

Multiple Choice

Refer to the following:
A firm with market power faces the following estimated demand and average variable cost functions:
$Q _ { d } = 39,000 - 500 P + 0.4 M - 8,000 P _ { R }$
$A V C = 30 - 0.005 Q + 0.0000005 Q ^ { 2 }$
where
$Q _ { d }$ is quantity demanded, P is price, M is income, and
$P _ { R }$ is the price of a related good. The firm expects income to be $40,000 and
$P _ { R }$ to be $2. Total fixed cost is $100,000.
-What price should the firm charge in order to maximize profit?

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Definitions:

Professional Responsibility

The ethical and moral obligations that professionals have towards their clients, society, and their profession, including maintaining competence and confidentiality.

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Tarasoff v. The Regents

Tarasoff v. The Regents of the University of California is a landmark legal case that established the duty of mental health professionals to warn identifiable individuals of threats made by a patient.