MC Qu. 83 Using time-series data, the demand function... Using time-series data, the demand function for a profit-maximi

[answerhappygod]

Mc Qu 83 Using Time Series Data The Demand Function Using Time Series Data The Demand Function For A Profit Maximi 1 (41.44 KiB) Viewed 12 times

MC Qu. 83 Using time-series data, the demand function... Using time-series data, the demand function for a profit-maximizing monopolist has been estimated as Qd=142,000 - 500P + 6M-400PR where Qd is the amount sold, Pis price, M is income, and PR is the price of a related good. The estimated values for M and PR in 2021 are $25,000 and $200, respectively. The short-run marginal cost curve for this firm has been estimated as: MC = 200 -0.024Q+0.000006Q² Total fixed cost is forecast to be $500,000 in 2021.What is the optimal price?
○ This is irrelevant since the firm will not produce in the short run. $200 O $250 O $408 O $520