The correct answer is showed, please provides me the working process to help me understand the answer. Thank you！ [Q: 12-1909965] Consider an advertising monopolist that faces a market demand functionP(Q,A) = 885 – 0.5Q + AU.5, has no fixed costs, has constant marginal costs of $30 per unit of Q, and a $1 cost perunit of advertising A.The profit function is: 1(Q,A) = (885 – 0.5Q + A0.5) Q- 30Q- A. What is the profit-maximizing quantity Q?A. 1710В. 1539C. 2223D. 2565ОЕ. 1026

Profit = revenue - cost Revenue = PQ There is no fixed cost and marginal cost is constant. Cost=…

[Q: 12-1909965] Consider an advertising monopolist that faces a market demand function P(Q,A) = 885 –0.5Q + A0.5, has no fixed costs, has constant marginal costs of $30 per unit of Q, and a $1 cost per unit of advertising A. The profit function is: 1(Q,A) = (885- 0.5Q + A0.5) Q- 30Q - A. What is the profit-maximizing quantity Q? A. 1710 B. 1539 C. 2223 D. 2565 E. 1026

[Q: 12-1909965] Consider an advertising monopolist that faces a market demand function P(Q,A) = 885 –0.5Q + A0.5, has no fixed costs, has constant marginal costs of $30 per unit of Q, and a $1 cost per unit of advertising A. The profit function is: 1(Q,A) = (885- 0.5Q + A0.5) Q- 30Q - A. What is the profit-maximizing quantity Q? A. 1710 B. 1539 C. 2223 D. 2565 E. 1026

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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