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Given a Linear Demand Function of the Form QXd =

Question 23

Multiple Choice

Given a linear demand function of the form QXd = 500 − 2PX − 3PY + 0.01M,find the inverse linear demand function assuming M = 20,000 and PY = 10.


A) PX = 500 − 2QX − 3PY + 0.01M
B) PX = 335 − 0.5QX
C) PX = 335 − 2QX
D) PX = 500 − 2QX

Correct Answer:

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