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

question 11

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.What is the average variable cost function?

• A)AVC = 200 -0.012Q + 0.000002Q²
• B)AVC = 200 - 0.048Q + 0.000012Q²
• C)AVC = 200 - 0.048Q + 0.000036Q²
• D)AVC = 200 -0.012Q + 0.000018Q²

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