The inverse demand function of the given demand function is <u>p = 50 - q/2</u>.
A graph that depicts the relationship between a product's price and demand is called a demand curve. On a demand graph, the horizontal axis represents the amount desired, while the vertical axis represents the product's price.
The price is a function of the quantity required when there is an inverse demand curve. The inverse of a demand curve indicates that variations in the amount required cause changes in price levels. The formula for calculating the demand curve for a product yields the graph of an inverse demand curve.
Given demand function: q = 100 - 2p.
To find the inverse demand function, we find the inverse of the equation, by isolating p, to get:
q = 100 - 2p,
or, 2p = 100 - q,
or, p = 100/2 - q/2,
or, p = 50 - q/2.
Thus, the inverse demand function of the given demand function is <u>p = 50 - q/2</u>.
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Answer:
D)
Step-by-step explanation:
Cost of 32 ounces yoghurt = $1.62
Cost of 1 ounce = $1.62/32 = $0.05 (approx)
Answer:
Step-by-step explanation:
Your answer would be 80% or a B
10.
The median is calculated by taking all values in a data set, placing them in order from least to greatest, and finding the value that is in the middle of the data set. In this case, the middle number (median) for Bank is 15. The middle number (median) for Software Company is 25. The difference between 25 and 15 is 10. So Software Company is 10 more minutes greater than Bank,
