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The manufacturer of high-quality flatbed scanners is trying to decide what price to set for its product. The costs of production and the demand for

  1. The manufacturer of high-quality flatbed scanners is trying to decide what price to set for its product. The costs of production and the demand for product are assumed to be as follows: TC = 500,000 + 0.85Q + 0.015 Q2 Q = 14,166 - 16.6P
    1. Determine the short-run profit-maximizing price.
    2. Plot this information on a graph showing AC, AVC, MC, P, and MR. (if possible, please provide the data sets used to plot the graph so that it can be better understood. Thanks.)

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