If the demand function is P(Q) = 50 -1.25Q and the Cost function C (Q) = 160 + 10 Q, where Q is the number of units in thousands and cost is in dollars.
Determine the profit maximization price and output.
Quantity= 16 ; Price=30
Quantity= 50; Price= 100
Quantity= 30 ; Price=9
Quantity= 62 ; Price=12