Alicia Gartiz has estimated the following demand function for economical draperies sold by her firm, Pleats Inc.

Qd=1,200-20Pd + .1I + .08A

where:

Qd= quantity demanded of pairs of drapes

Pd= price per pair of drapes

I= per capita income in the market area, and

A= her firm's advertising expenditure

All data are on a monthly basis. The current values of the income and advertising variables are, respectively, $1,200 per month and $4,000 per month.

1. If Alicia wished to obtain the maximum monthly sales revenue, given the data above, what price would she charge and what would the revenue be?