The demand curve for blueberry.com's sole product is Answer the following questions. Q = 4 - 1/3P a. Find the inverse demand curve (i.e. by making P the subject) [2 marks] b. What is the price if the quantity demanded is Q=3? [1 mark] c. Sketch the graph of the function obtained in a. [1 mark] d. What is the gradient of the inverse demand curve you have just found? [1 mark] e. Where will the line graph of this function cross the vertical (P) axis? [1 mark] f. = If the inverse supply function is P blueberry.com's product? [2 marks] 2 + 2Q, what is the equilibrium price of
The demand curve for blueberry.com's sole product is Answer the following questions. Q = 4 - 1/3P a. Find the inverse demand curve (i.e. by making P the subject) [2 marks] b. What is the price if the quantity demanded is Q=3? [1 mark] c. Sketch the graph of the function obtained in a. [1 mark] d. What is the gradient of the inverse demand curve you have just found? [1 mark] e. Where will the line graph of this function cross the vertical (P) axis? [1 mark] f. = If the inverse supply function is P blueberry.com's product? [2 marks] 2 + 2Q, what is the equilibrium price of
Algebra and Trigonometry (MindTap Course List)
4th Edition
ISBN:9781305071742
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter2: Functions
Section2.4: Average Rate Of Change Of A Function
Problem 4.2E: bThe average rate of change of the linear function f(x)=3x+5 between any two points is ________.
Related questions
Question
![The demand curve for blueberry.com's sole product is
Answer the following questions.
Q = 4 - 1/3P
a. Find the inverse demand curve (i.e. by making P the subject) [2 marks]
b. What is the price if the quantity demanded is Q=3? [1 mark]
c. Sketch the graph of the function obtained in a. [1 mark]
d. What is the gradient of the inverse demand curve you have just found? [1 mark]
e. Where will the line graph of this function cross the vertical (P) axis? [1 mark]
f.
=
If the inverse supply function is P
blueberry.com's product? [2 marks]
2 + 2Q, what is the equilibrium price of](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fbcc09e80-a06f-49df-8770-880c3d0c6275%2F17242d68-a857-4ce6-917f-42661c9dbe1a%2Frcmunlq_processed.png&w=3840&q=75)
Transcribed Image Text:The demand curve for blueberry.com's sole product is
Answer the following questions.
Q = 4 - 1/3P
a. Find the inverse demand curve (i.e. by making P the subject) [2 marks]
b. What is the price if the quantity demanded is Q=3? [1 mark]
c. Sketch the graph of the function obtained in a. [1 mark]
d. What is the gradient of the inverse demand curve you have just found? [1 mark]
e. Where will the line graph of this function cross the vertical (P) axis? [1 mark]
f.
=
If the inverse supply function is P
blueberry.com's product? [2 marks]
2 + 2Q, what is the equilibrium price of
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