Question: 1) The demand function for a consumer is Q = 40 5P. a) Determine the inverse demand function. h) Determine the vertical intercept of the

1) The demand function for a consumer is Q = 40 5P. a) Determine the inverse demand function. h) Determine the vertical intercept of the inverse demand function. c) Determine the horizontal intercept of the inverse demand function. d) Determine the slope of the inverse demand function. e) Draw the consumer's inverse demand curve in Figure 1 provided in the answer booklet. f) Determine the market demand curve if there are 1000 consumers with the demand function Q = 40 5P

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