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

question 54

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 2014 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.The forecasted marginal revenue function for 2016 is:

• A)MR = 200,000- 0.004Q
• B)MR = 424- 0.002Q
• C)MR = 110 - 0.002Q
• D)MR = 424 - 0.004Q
• E)MR = 120 -0.002Q

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