A new product has a demand curve that can be expressed as 
and the monopolist that produces it has a total cost curve of 
where Q is output. Use calculus to solve for:
a. the profit-maximizing level of output.
b. the price the producer will charge to maximize its profits.
Definitions:
Low Demand
A situation where the desire or need for a particular product or service is less than the supply available.
Pure Competition
A market structure characterized by a large number of small firms, a homogeneous product, and very easy entry and exit from the market.
Imperfect Competition
Market structures that do not meet the conditions of perfect competition, including monopolistic competition, oligopoly, and monopoly.
Demand Curve
A graph showing the relationship between the price of a good and the quantity of that good consumers are willing and able to purchase at various prices.
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