c; $5.00*12,000 = $60,000 $6.00*9,500 = $57,000 $7.00*8,700 = $60,900 $8.00*7,000 = $56,000 Note: to find maximum profits we would have to know the variable cost. If the variable cost is $3, then the price that maximizes profits would be: ($5.00 - $3)*12,000 = $24,000 ($6.00 - $3)*9,500 = $28,500 ($7.00 - $3)*8,700 = $34,800 ($8.00 - $3)*7,000 = $35,000 revenues are maximized at $7, but profits are maximized at $8