Refer to the Following:
the Market Demand for a Monopoly $Q _ { d } = 100,000 - 500 P + 2 M + 5000 P _ { R }$

question 60

Multiple Choice

Refer to the following:
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 2015.
-For 2015, 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

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Definitions:

Reinforcement

In behavioral psychology, it is the process of encouraging or establishing a pattern of behavior by offering rewards or consequences.

Skinner's Theory

Another term for Skinner's Radical Behaviorism, focusing on the importance of observable behavior and the use of reinforcement methods for behavior modification.

Kelly's Personal Construct Theory

A theory by George Kelly suggesting that individuals use personal constructs, which are mental models, to interpret and predict the world.

Superordinate Constructs

High-level, abstract concepts or categories that help organize more specific or subordinate information in cognitive psychology and social sciences.