Refer to the following text for questions 7 to 14:

A monopoly firm faces the following average revenue (demand) curve: P = 360 0.04Q where Q denotes the output and P is price, measured in dollars The firm's cost function is given by C = 60Q + 5000. Assume that the firm maximizes profits.

The marginal cost (MC) of production is $60.

hoose the profit-maximizing level of output produced by the monopoly firm?

Group of answer choices

1750

2500

3750

4500