For a monopolist’s product, the demand function is 𝑝 = 72 − 0.04𝑞 and the cost

Question

function is 𝑐 = 500 + 30𝑞. At what level of output will the profit be maximized? At
what price does this occur and what is the profit?

ANSWER: 525, RM51, RM10,525
I WANT THE STEPS
ITS OPTIMIZATION

Answer 1

I don't see anything about price. Is p(q) the price? If so, then since revenue = price * quantity,
profit = pq-c
so expand that and find where the derivative is zero.