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 2016.For 2016,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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