Given market data in Table 2 below Table 2: Market Quantity Supplied and Demanded Data for Good X Market Quantity Prices Supplied (P) (Qs) Quantity Demanded (Qd) $18.00 20 100 $20.00 40 80 $22.00 60 60 $24.00 80 40 $26.00 100 20 The inversed function of QS(P) is OP(QS) = 16.000 + 0.100QS OP(QS) = 20.000 + 0.100Q OP(QS) 16.000 + 10.000Q OP(QS) = 20.000 + 10.000Q

Given market data in Table 2 below Table 2: Market Quantity Supplied and Demanded Data for Good X Market Quantity Prices Supplied (P) (Qs) Quantity Demanded (Qd) $18.00 20 100 $20.00 40 80 $22.00 60 60 $24.00 80 40 $26.00 100 20 The inversed function of QS(P) is OP(QS) = 16.000 + 0.100QS OP(QS) = 20.000 + 0.100Q OP(QS) 16.000 + 10.000Q OP(QS) = 20.000 + 10.000Q

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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