Problem
A large company in the communication and publishing industry has quantified the relationship between the price of one of its products and the demand for this product as Price = 150 - 0.01 × Demand for an annual printing of this particular product. The fixed costs per year (i.e., per printing) = $50,000 and the variable cost per unit=$40. What is the maximum profit that can be achieved if the maximum expected demand is 6,000 units per year? What is the unit price at this point of optimal demand?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.