The (monopolist) producer of good X has a patent of the good. The government has not regulated the sale of good X. Demand for good X can be described by P= 800 - 5Q. There is a fixed cost of $9360. The marginal cost of production is $2 per unit.
- How many units do they sell?
- What price do they charge?
- What is the average cost per unit?
- What is their total profit?