The market demand for a monopoly firm is estimated to be:Qd = 100,000 - 500P + 2M + 500PRwhere Qd is quantity demanded, P is price, M is income, and PR is the price of a related good. The manager has forecasted the values of M and PR will be $50,000 and $20, respectively, in 2016. For 2016, the marginal revenue function is
A. MR = 290 - 0.002Q.
B. MR = 580 - 0.001Q.
C. MR = 600 - 0.004Q.
D. MR = 290 - 0.5P.
E. none of the above
Answer: C
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