Discussion Post
The Trusted Genuine Masters company produces forged paintings for sale at well-known auction houses. The company estimates that its demand equation is
q =-25p+5,000
paintings sold per month when priced at p Euros each. It has monthly fixed costs of €400 and variable costs of €10 per painting.
• Find the company's monthly revenue, cost, and profit as functions of p, the price per painting.
• Draw the graphs of revenue and cost functions and determine the equilibrium price. How many paintings would be sold at the equilibrium
price?
The response should include a reference list. Using one-inch margins, Times New Roman 12 pnt font, double-space and APA style of writing and citations.