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3 a us textbook publisher is introducing a new economics...

Question: 3 a us textbook publisher is introducing a new economics...

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3. A US. textbook publisher is introducing a new economics textbook, Managerial Economics-It is no Graphing matter, to the domestic market. Each book is produced at a constant marginal cost of S98 per book. Management predicts that annual domestic demand for the book is Po- 278-03QD, where Po-price of a book in dollars, and Qp denotes the number of books (as measured in thousands). a. Assuming no costs beyond the MC of $98 per book, state the profit equation for the domestic market: l point b. State the marginal profit equation for the domestic market: 1 point c. Determine the optimal quantity and price of the book in the domestic market: 2 points Using your answers to parts a and b, compute the total profit in the domestic market, assuming no fixed costs: d. 1 point

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