Software Plus has a patent on software that estimates economic damages for clients involved in maritime injury lawsuits. Consumer demand is Quantity = 287.5 - 12.5P. Software cost $985. Producing a copy of the software is $11 per unit. a.  How many copies of the software should I attempt to sell? At what price should I sell it? How much profit would I make?

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
14th Edition
ISBN:9781305506381
Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Chapter11: Price And Output Determination: Monopoly And Dominant Firms
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Software Plus has a patent on software that estimates economic damages for clients involved in maritime injury lawsuits. Consumer demand is Quantity = 287.5 - 12.5P.

Software cost $985. Producing a copy of the software is $11 per unit.

a.  How many copies of the software should I attempt to sell? At what price should I sell it? How much profit would I make?

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