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 inverse demand function is
A. P = 600 - 0.001Q.
B. P = 600 - 0.004Q.
C. Q = 300 - 0.005P.
D. P = 300 - 0.002Q.
E. none of the above
Answer: E
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During the delivery period,
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_____ believe that the primary causes of the Depression were autonomous declines in aggregate demand initiated by shocks to the IS curve
a. Monetarists. b. classical economists. c. early and late Keynesians. d. early Keynesians only.
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