Myrrh, a resin made from the Commiphora tree, is sometimes used as an essential oil in homeopathy and aromatherapy. The CEO of the only Canadian distributor, Schulichcorp, says that Myrrh flies off the shelf so fast... it has a half-life of 0.8 seconds which is the same as Moscovium (Mc.) She sometimes walks around mumbling: Myrrh equals Mc!!

The annual demand for Myrrh Oil in Canada is given by: Q = 24,000 - 600P where Q is in ounces and P is in dollars. Additionally, Schulichcorp, pays its supplier $25,000 per year to have exclusive rights to the Canadian market plus $10 per ounce.

a. Determine the Marginal Revenue curve for Myrrh.

b. Determine the profit maximizing price for Myrrh.

c. The CEO has noticed that for every time a customer buys an ounce of Myrrh, there is a twenty percent probability he will also buy a "Gold, Frankincense, and Myrrh" T-Shirt. No one who doesn't buy the oil ever buys the t-shirt. If the company makes $20 extra profits from the shirts, determine the profit maximizing price for Myrrh Oil.

d. For this part ignore part c. Schulichcorp has been steadily paying its $25,000 to the supplier every year for the distributorship. However, the supplier has recently decided that moving forward, they would offer the exclusive rights to be the Canadian Myrrh Oil supplier to the highest bidder. Assuming the demand and the per-unit cost remain exactly the same, what is the maximum Schulichcorp should be willing to pay per year for the distributorship?