A firm that has no competitors in a product market has estimated the market demand curve for a product as P = 600 - 0.4Q. A firm sets a price for its product, at which own-price elasticity of demand equals to -2. Determine:

A.The price at which the firm is going to sell its product.

B.The firm's total revenue to be gained at selected price.

C.The product price at which the firms total revenue will be maximum.

Explain your answers to the questions.