5.ABC Company is planning to market a new model of product X. The management

collects information from retailers that how many units of good X they would buy for

various prices. From this survey, it is determined that the unit demand function is

X =-1,500P + 30,000

The fixed costs to the company for production of good X are found to be 28,000 birr and

the cost for material and labor to produce each unit of good X is estimated to be 8 birr per

unit. Determine the price that the company should charge to maximize its profit. ----------​