Using Time-Series Data,the Demand Function for a Profit-Maximizing Monopolist Has

question 94

Multiple Choice

Using time-series data,the demand function for a profit-maximizing monopolist has been estimated as where is the amount sold,P is price,M is income,and is the price of a related good.The estimated values for M and in 2012 are $25,000 and $200,respectively.The short-run marginal cost curve for this firm has been estimated as: Total fixed cost is forecast to be $500,000 in 2016.What is the optimal price?

• A)This is irrelevant since the firm will not produce in the short run.
• B)$200
• C)$250
• D)$408
• E)$520

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Recognize the fundamental role of courage in establishing moral worth and dignity.

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Understand the concept and importance of ethical climate in an organization.

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