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The manager of a monopoly firm obtained the following estimate of the demand for its product

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The manager of a monopoly firm obtained the following estimate of the demand for its product.

Q = 1,000- 100P + 0.2 M - 500P_R

where M and P_R are, respectively, consumer income and the price of a related good. The forecasted values for M and P_R are M = $30,000 and P_R = $5.

a. What is the forecasted demand function?

b. What is the inverse demand function?

c. What is the marginal revenue function?

The estimated average variable cost function is

AVC = 40- 0.08 Q +0.0001Q^2

d. To maximize profit the firm should produce ..... units of output.

e. To maximize profit the rum should set a price of .........

f. Check to see if the firm should produce in the short run rather than shut down.

g. Total fixed cost is $5,000. The firm makes a profit (loss) of............ .

PLEASE SPECIFICALLY ANSWER F AND G