The market demand for MP3 player is p = 50 – 0.5Q, and the marginal co
The market demand for MP3 player is p = 50 – 0.5Q, and the marginal cost for Nick to obtain and sell a MP3 player is $10.
If he receives $12 for each MP3 player he sells from the store owner and the store owner controls the quantity of MP3’s available for sale, then A) 40 MP3 players will be sold.
B) joint profit is $798.
C) joint profit will be maximized.
D) Nick will sell as many as he can.
ANSWER
B
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