The demand curve for a truckload of firewood for college students in a small town is Qc=450
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Question:
The demand curve for a truckload of firewood for college students in a small town is
Qc=450 −p.
It is sometimes convenient to rewrite a demand curve equation with a price on the left-hand side. We refer to such a relationship as the inverse demand curve. Therefore, the inverse demand curve for college students is
p=450−QC.
The demand curve for other town residents is
Qr=250−2p.
What is the inverse demand curve for other town residents?
Related Book For
Managerial Economics and Strategy
ISBN: 978-0321566447
1st edition
Authors: Jeffrey M. Perloff, James A. Brander
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