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 profit-maximizing or loss-minimizing)level of production?

Question

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 profit-maximizing or loss-minimizing)level of production?

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The Answer of 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 profit-maximizing or loss-minimizing)level of production?

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