Curse Purge Plus is a monopolist in the curse removal market They face an inverse demand curve given by P=200-4Q, where Q is the number of curse removals they sell. Their cost function is C(Q)=8Q.
a. Write down the company’s profit function Then, find the first-order condition for profit maximization. Use that to find the profit-maximizing price and quantity, and the maximum profit. (3 points)