Given a demand function of Q^d = D(P)= 500 - 10P,what is the inverse demand function? A) D(P) = 50 - P B) P(Q) = 50P C) P(Q) = 50 - (Q/10) D) P(Q) = 500 - 10Q

Name: Given a demand function of Q d = D(P)= 500 - 10P,what is the inverse demand function? A) D(P) = 50 - P B) P(Q) = 50P C) P(Q) = 50 - (Q/10) D) P(Q) = 500 - 10Q
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Question

Quizplus · Accepted Answer

The inverse demand function is found by solving the demand function for P. Given D(P) = 500 - 10P, solving for P gives P = 50 - (Q/10), which matches option C.

Given a Demand Function of Qd = D(P)= 500 -

Given a Demand Function of Q^d = D(P)= 500 -