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KW has produced a new hit song, Lovin' KK. Digital copies can be produced at marginal cost of zero, and he has no fixed costs.
KW has produced a new hit song, "Lovin' KK." Digital copies can be produced at marginal cost of zero, and he has no fixed costs. The market demand for KW's song is given by
QD= 4 - P, where quantity is measured in millions of copies.
- If KW seeks to maximize profits and sells the song directly, how many copies will he sell in millions?
- What is his profit? In millions?
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