Question: 2) A consumer's demand function is Q = 45 - 3P. a) Determine the inverse demand function. b) Determine the inverse demand function's vertical intercept.
2) A consumer's demand function is Q = 45 - 3P. a) Determine the inverse demand function. b) Determine the inverse demand function's vertical intercept. c) Determine the inverse demand function's horizontal intercept. d) Determine the inverse demand function's slope. e) Determine the consumer's marginal benefit for the 30th unit demanded. f) Determine the consumer's total benefit from purchasing 15 units. g) Determine the market demand function if there are 5 consumers with the demand function Q = 45 - 3P
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