Question: 3 . Consider the following inverse demand function P=6-3Q Where Q is quantity demanded and P is price. a. b. c. Graph the inverse demand

3. Consider the following inverse demand function P=6-3Q

Where Q is quantity demanded and P is price.

a. b. c.

Graph the inverse demand function; At what price and quantity is the demand unitary elastic; and

Determine the elastic and inelastic portions of the demand function.

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