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#28 -The market demand for a monopoly firm is estimated to be: Q d = 100,000 500 P + 2 M + 500 P R

#28 -The market demand for a monopoly firm is estimated to be:

Q_d= 100,000 500P+ 2M+ 500P_R

whereQ_dis quantity demanded,Pis price,Mis income, andP_Ris the price of a related good. The manager has forecasted the values ofMandP_Rwill be $50,000 and $20, respectively, in 2021. For 2021, the forecasted demand function is

Multiple Choice

Q_d= 300,000 500P
Q_d= 100,000 100P
Q_d= 600,000 100P
Q_d= 200,000 500P
None of the choices are correct.

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