Can get help solving 7.4.2 and 7.2.3 METHODS OF DIFFERENTIATION1347.4.1 For those functions of Exercise 7.3.1 which are monotonic and differentiable. usethe inverse function rule to find the derivative of the inverse function.Exercises7.4.2 The inverse demand function for a g0ood is p = 3 – x², where p is price, x isquantity and p and a are restricted to be non-negative. Show that this is a mono-tonic function and find the ordinary demand function for the good. Also find anexpression for the elasticity of demand.7.4.3 The demand function for a good supplied by a monopolist is1000 –(0 0)(7.6)Jwhere c is a nositive constant, can be put in the form 21

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the inverse 7.4.2 The inverse demand function for a good is p = 3 – x², where p is price, x is quantity and p and r are restricted to be non-negative. Show that this is a mono- tonic function and find the ordinary demand function for the good. Also find an expression for the elasticity of demand. %3D - 7.4.3 The demand function for a good supplied by a monopolist is 1000 – p (0 < p< 10). p3 Find the inverse demand function and derive an expression for marginal revenue.

the inverse 7.4.2 The inverse demand function for a good is p = 3 – x², where p is price, x is quantity and p and r are restricted to be non-negative. Show that this is a mono- tonic function and find the ordinary demand function for the good. Also find an expression for the elasticity of demand. %3D - 7.4.3 The demand function for a good supplied by a monopolist is 1000 – p (0 < p< 10). p3 Find the inverse demand function and derive an expression for marginal revenue.

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter3: Preferences And Utility

Section: Chapter Questions

Problem 3.13P

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