Refer to the following:
The market demand for a monopoly firm is estimated to be:
where
is quantity demanded, P is price, M is income, and
is the price of a related good. The manager has forecasted the values of M and
will be $50,000 and $20, respectively, in 2015.
-For 2015, the forecasted demand function is
A) = 300,000 - 500P
B) = 100,000- 100P
C) = 600,000 - 100P
D) = 200,000 -500P
E) none of the above
Correct Answer:
Verified
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