(Solved): The demand curve for a truckload of firewood for college students in a small town is Q_(C)=400-p. I ...
The demand curve for a truckload of firewood for college students in a small town is
Q_(C)=400-p. 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=400-Q_(c)The demand curve for other town residents is
Q_(r)=300-2p. What is the inverse demand curve for other town residents? The inverse demand curve for other town residents is
p=150-(1)/(2)Q_(r)At a price of
$300, will any firewood be sold to college students? College students will demand 100 units of firewood. (Enter your response as a whole number.) What about other town residents? Other town residents will demand 0 units of firewood. At what price is the quantity demanded by other town residents zero? The quantity demanded by other residents is zero when price is
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