Some time ago, a consultant formulated the following linear model of demand for online novels, where q is the monthly demand for an online bookstore's online novels at a price of p dollars per novel.

q = 60p + 990

(a)

Use this model to express the monthly revenue R as a function of the unit price p.

R(p) =

Hence, determine the price you should charge for a maximum monthly revenue. (Round your answer to the nearest cent.)

$

(b)

Author royalties and copyright fees cost the company an average of $5 per novel, and the monthly cost of operating and maintaining the online publishing service amounts to $900 per month. Express the monthly profit P as a function of the unit price p.

P(p) =

Hence, determine the unit price you should charge for a maximum monthly profit. (Round your answer to the nearest cent.)

$

What is the resulting profit (or loss)? (Round your answer to the nearest cent.)

$