5.3 A monopoly’s demand function is Q = 1280p-2A0.5, where Q is its quantity, p is its price, and A is the level of advertising. Its constant marginal and average cost of production is 8, and its cost of a unit of advertising is 1. What are the firm’s profit-maximizing price, quantity, and level of advertising? (Hint:

See Q&A 9.5.) C