A medical device company has a monopoly on a certain class, Business Economics

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A medical device company has a monopoly on a certain class

A medical device company has a monopoly on a certain class of cardiac implants. Demand for the implants is given by P=28000-5Q and marginal revenue is given by MR=28000-10Q. The total fixed costs for the implants division is 50000 and the marginal cost is given by MC=6000, so TC=50000+6000Q. Calculate the profit-maximizing quantity and price.

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Business Economics: A medical device company has a monopoly on a certain class

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Business Economics: A medical device company has a monopoly on a certain class

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