Question
Qx = 110 - 5.Px + (0,01 x 1000) + (2 x 25) + (0,03 x 2000) Qx = 110 - 5Px + 10 +
Qx = 110 - 5.Px + (0,01 x 1000) + (2 x 25) + (0,03 x 2000)
Qx = 110 - 5Px + 10 + 50 + 60
Qx = 230 - 5 Px ->demand function
5Px = 230 - Qx -> /-230 /:(-5)
Px = 46 - 0,2 Qx>Inverse function
*Explanation in words of this process*
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College Mathematics for Business Economics Life Sciences and Social Sciences
Authors: Raymond A. Barnett, Michael R. Ziegler, Karl E. Byleen
12th edition
321614003, 978-0321614001
