Table 81 A Monopoly Producer of Foreign Language Translation Software Faces a |

Table 8.1
$$\begin{array} { | c | c | c | } \hline \text { Price per Unit } & \begin{array} { c } \text { Quantity Demanded } \\\text { (units) }\end{array} & \begin{array} { c } \text { Total Cost of } \\\text { Production } \\\text { (dollars) }\end{array} \\\hline \$ 85 & 10 & \$ 530 \\\hline 80 & 11 & 540 \\\hline 75 & 12 & 550 \\\hline 70 & 13 & 560 \\\hline 65 & 14 & 575 \\\hline 60 & 15 & 595 \\\hline 55 & 16 & 625 \\\hline\end{array}$$ A monopoly producer of foreign language translation software faces a demand and cost structure as given in Table 8.1.
-Refer to Table 8.1.What is the firm's profit-maximising 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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