The Demand for Professor Bongmore's New Book Is Given by the Function

question 11

Multiple Choice

The demand for Professor Bongmore's new book is given by the function Q = 8,000 - 100p. If the cost of having the book edited and typeset is $17,000, if the marginal cost of printing an extra copy is $4, and if he has no other costs, then he would maximize his profits by

• A) having it edited and typeset and selling 3,800 copies.
• B) having it edited and typeset and selling 4,000 copies.
• C) not having it edited and typeset and not selling any copies.
• D) having it edited and typeset and selling 7,600 copies.
• E) having it typeset and selling 1,900 copies.

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Definitions:

Water

A colorless, tasteless, and odorless substance essential for most forms of life on Earth and a key resource in both household and industrial activities.

Florida

A U.S. state located in the southeastern region, known for its warm climate, beaches, and major attractions like Walt Disney World.

Excess Supply

Occurs when the quantity of a good or service supplied by producers exceeds the quantity demanded by consumers at a given price.

Supply

The total amount of a good or service available for purchase at any specified price.