Q1 = 150 - 3P1 + P2 + P3 Q2 = 180 + P1 - 4P2 + 2P3 Q3 = 200 + 2P1 + P2 - 5P3 and TC = Q12 + Q1Q2 + 2Q22 + Q2Q3 + Q32 + Q1Q3 Find the inverse demand function P = f(Q) and use Cramer’s rule to solve for the critical value Q1. (Answer
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A: The answer is as follows:-
Q1 = 150 - 3P1 + P2 + P3
Q2 = 180 + P1 - 4P2 + 2P3
Q3 = 200 + 2P1 + P2 - 5P3 and
TC = Q12 + Q1Q2 + 2Q22 + Q2Q3 + Q32 + Q1Q3
Find the inverse
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