The Market Demand for a Monopoly Firm Is Estimated to Be

question 59

Multiple Choice

The market demand for a monopoly firm is estimated to be: $Q _ { d } = 100,000 - 500 P + 2 M + 5000 P _ { R }$ where $Q _ { d }$ is quantity demanded,P is price,M is income,and $P _ { R }$ is the price of a related good.The manager has forecasted the values of M and $P _ { R }$ will be $50,000 and $20,respectively,in 2021.For 2021,the marginal revenue function is

• A)MR = 290 - 0.5P.
• B)MR = 580-0.001Q.
• C)MR = 290-0.002Q.
• D)MR = 600 -0.004Q.
• E)none of the above

Identify and differentiate between types of norms (folkways, mores, taboos, and laws).

Recognize examples of nonmaterial culture.

Define the concept of "mother tongue" and its significance.

Understand the role and significance of folkways in society.

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Definitions:

Anticline

A type of fold that is convex up and has its oldest beds at its core, often associated with the trapping of petroleum.

Green River Basin

A major river basin in the western United States, known for its significant deposits of oil shale and natural gas.

Petroleum

A naturally occurring liquid found beneath the Earth's surface that can be refined into fuel and other products.

Coal-Bed Methane

A type of natural gas released by coal beds.