Q4. Dr. Shakeel, a well-known orthopedics, with a reputation of being one of the best
surgeons in the Maldives, enjoys a substantial degree of market power and has fixed costs
per month at MVR8000. He has estimated his demand curve and average variable cost
function per month to be as follow:
Q = 480 – 0.2P
AVC = 2Q2 – 15Q +400
a) If the doctor wishes to maximize his profits, how many operations should he perform each
month and at what price? How much profit does he earns in each month?