You are the manager of a firm that has an exclusive license to produce your product.

You are the manager of a firm that has an exclusive license to produce your product. The inverse market demand curve is P = 1,000 - .5Q. Your cost function is C(Q) = 2Q + Q² and

MC = 2 + 2Q.  Determine the output you should produce, the price you should charge, and your profits.