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Part 1

The demand curve for a truckload of firewood for college students in a small town is

Qc=400p.

It is sometimes convenient to rewrite a demand curve equation with 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=400Qc.

The demand curve for other town residents is

Qr=4002p.

Part 2

What is the inverse demand curve for other town residents?

Part 3

The inverse demand curve for other town residents is

p=200 minus one half Upper Q Subscript r20012Qr.

Part 4

At a price of

$300,

will any firewood be sold to college students?

Part 5

College students will demand

100100

units of firewood.(Enter your response as a whole number.)

Part 6

What about other town residents?

Part 7

Other town residents will demand

00

units of firewood.

Part 8

At what price is the quantity demanded by other town residents zero?

Part 9

The quantity demanded by other residents is zero when price is

$200200.

Part 10

Using the multipoint curved line drawing

tool,

show the market demand curve for firewood. Label this demand curve

'DMarket.'

Part 11

Carefully follow the instructions above, and only draw the required object.