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 forecasted demand function is
A. Qd = 100,000 - 100P
B. Qd = 200,000 - 100P
C. Qd = 300,000 - 500P
D. Qd = 600,000 - 100P
E. none of the above
Answer: C
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