Problem
Suppose that Kalamazoo Competition-free Concrete's demand function is D(P) = 5,000 - 50P, its marginal cost is $40 per cubic yard, and it faces an avoidable fixed cost of $40,000 per year. What is its profit-maximizing sales quantity and price?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.