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Stells [14]
3 years ago
15

Suppose the total demand function for a good was made up of 10 identical, individual demanders all with a demand function given

by: qD = 20-0.5P.
Find the inverse, total demand function and fill in the missing values below.
P = 40 - _____ QD
(Round to the nearest two decimal places if necessary.)
Business
1 answer:
amm18123 years ago
4 0

Answer:

P = 40 - <u>2</u>QD

Explanation:

Given;

QD = 20-0.5P ................................. (1)

FFrom equation (1), we can now solve for P by first rearranging as follows:

0.5P = = 20 - QD

Divide through by 0.5, we have:

(0.5 / 0.5)P = (20 / 0.5) - (1 / 0.5)QD

P = 40 - 2QD

Therefore, the missing value is 2 and the answer is given as follows:

P = 40 - <u>2</u>QD

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Read 2 more answers
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Sonja [21]

Answer:

The correct answer is B.

Explanation:

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