Table 10-1 A Monopoly Producer of Foreign Language Translation Software Faces a Unit

Table 10-1
$\begin{array}{|c|c|c|}\hline \begin{array}{c}\text { Price per } \\\text { Unit }\end{array} & \begin{array}{c}\text { Quantity Demanded } \\\text { (units) }\end{array} & \begin{array}{c}\text { Total Cost of Production } \\\text { (dollars) }\end{array} \\\hline \$ 85 & 10 & \$ 530 \\\hline 80 & 11 & 540 \\\hline 75 & 12 & 550 \\\hline 70 & 13 & 560 \\\hline 65 & 14 & 575 \\\hline 60 & 15 & 595 \\\hline 55 & 16 & 625 \\\hline\end{array}$ A monopoly producer of foreign language translation software faces a demand and cost structure as given in Table 10-1
-Refer to Table 10-1.What is the firm's profit-maximizing output and what is the price charged to sell this output?

A) P = $85; Q = 10
B) P = $80; Q = 11
C) P = $70; Q = 13
D) P = $65; Q = 14

Correct Answer:

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