If the Demand Schedule for Bong's Book Is Q =

question 31

Multiple Choice

if the demand schedule for Bong's book is Q = 2,000 - 100p, the cost of having the book typeset is $9,000, and the marginal cost of printing an extra book is $4, then he would maximize his profits by

• A)having it typeset and selling 800 copies.
• B)having it typeset and selling 1,000 copies.
• C)not having it typeset and not selling any copies.
• D)having it typeset and selling 1,600 copies.
• E)having it typeset and selling 400 copies.

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Definitions:

Ownership Interest

Refers to the rights and claims that an individual or entity has over a property or asset, demonstrating a stake or share in its value.

Real Property

Land and anything permanently attached to it, such as buildings and trees, as opposed to personal property, which is movable.

Earth's Crust

The outermost solid shell of a rocky planet, dwarf planet, or natural satellite, which is chemically distinct from the underlying mantle.

Chattel

Personal property which is movable, as opposed to real property or real estate.