In Problem 1, If the Demand Schedule for Bong's Book

question 24

Multiple Choice

In Problem 1, if the demand schedule for Bong's book is Q = 5,000 - 100p, the cost of having the book typeset is $6,000, and the marginal cost of printing an extra book is $4, then he would maximize his profits by

• A) not having it typeset and not selling any copies.
• B) having it typeset and selling 4,600 copies.
• C) having it typeset and selling 2,500 copies.
• D) having it typeset and selling 2,300 copies.
• E) having it typeset and selling 1,150 copies.

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Definitions:

Small Claims Courts

Courts that handle minor legal disputes and civil cases involving limited amounts of money, designed to be more accessible and less formal.

Young Offenders

Young offenders refer to individuals under a certain age who have been found guilty of committing a crime, often subject to different legal procedures and consequences than adults.

Court of Appeal

A high court that reviews decisions and appeals from lower courts to ensure the correct application of the law.

Youth Criminal Justice Act

Canadian law that governs the prosecution of criminal offenses committed by young persons under the age of 18.