question archive Captain avenger backpacks are the most popular holiday gifts among kids these days
Captain avenger backpacks are the most popular holiday gifts among kids these days
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Captain avenger backpacks are the most popular holiday gifts among kids these days. The backpacks are produced by a profit-maximizing monopolist. The marginal cost of producing the Qth backpack is $3Q. There are no fixed costs. Demand for the backpack is given by P = 1000 - Qd. Now suppose the gov passes a law setting the price of a backpack at $750. What is the quantity the monopolist will choose to maximize profits?
