Question 6 (11 marks) The inverse demand curve in a market is given by PD (Q) =

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Question 6 (11 marks) The inverse demand curve in a market is given by PD (Q) = 92 + e 1 Q, where Q represents millions of gallons of syrup. The inverse supply curve in a market is given by PS(Q) = (Q + 1)21n(Q + 1). Note: Q does not need to be an integer. (a) What is the value of PD when Q = e 1'? 1 mar (b) What is the value of PS when Q = e 1? 1 mar (c) What is producer surplus at market equilibrium? 9 mark

Posted Date: Jul 02, 2024 04:14 AM

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Question 6 (11 marks) The inverse demand curve in a market is given by PD (Q) =

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