Log in
Economics
1
answer
0
watching
541
views

The supply curve for product X is given by QXS = -500 + 10PX .

a. Find the inverse supply curve.

P = + Q

b. How much surplus do producers receive when Qx = 470? When Qx = 1,190?

When QX = 470: $

When QX = 1,190: $

Watch
1
answer
0
watching
541
views

For unlimited access to Homework Help, a Homework+ subscription is required.

Yusra Anees
Yusra AneesLv10
28 Sep 2019

Unlock all answers

Get 1 free homework help answer.
Already have an account? Log in
Share

Related textbook solutions

Principles of Economics
2nd Edition, 2017
Openstax
ISBN: 9781947172364
Principles of Macroeconomics
2 Edition,
Openstax
ISBN: 9781947172388
Principles of Microeconomics
2 Edition,
Openstax
ISBN: 9781947172340

Related questions

The demand for UWI Quick Stop product is given by Qx = 220 – 20Px.

a) How many units will be sold at price $8.21?

b) What is the price when 225 units are sold?

c) Briefly, explain (in less than 20 words) the answers obtained in “a” and “b” to a high school

student who has very limited knowledge of economic

Suppose the supply function for product X is given by QXS = - 30 + 2Px  - 4Pz.

a. How much of product X is produced when Px = $600 and Pz = $60?



b. How much of product X is produced when Px = $80 and Pz = $60?



c. Suppose Pz = $60. Determine the supply function and inverse supply function for good X. Graph the inverse supply function.

Supply function: QXS = + PX

Inverse supply function: PX = + QXS

The demand curve for product X is given by Qxd = 300 - 2Px a. Find the inverse demand curve b. How much consumer surplus do consumers receive when Px = $45?

Weekly leaderboard

Home
Homework Help 3,900,000
Economics 400,000
Start filling in the gaps now
Log in