John Motors is the dominant used$-$car dealer in Macau. After paying $$50,000$ for

overhead, John Motors$$s cost per car is $$500.$ There are $5$ other small used$-$car lots

in this town, but since they are not large enough to purchase cars through the same

discount sources as John, each firm faces the cost function $()=5,000+$

$700+5$

$2$

$.$ The demand for used cars is $()=50010.$ Assuming John is

aware of his competitors$$ costs, what price should John set for a used car?