Price 180 150- 120- 90- 60- 30 0- 0 5 10 Quantity OP=-0.083 QD + 180 OP=-12 QD + 180 OQD = -0.083 P + 15 OP=-12 QD + 15 OQD=-12 P + 15 15 The figure above shows the demand curve. Which if the following represents the inverse demand equation? QD=-12 P + 15 P=0.083 QD + 15 QD = -0.083 P + 180 20

Price 180 150- 120- 90- 60- 30 0- 0 5 10 Quantity OP=-0.083 QD + 180 OP=-12 QD + 180 OQD = -0.083 P + 15 OP=-12 QD + 15 OQD=-12 P + 15 15 The figure above shows the demand curve. Which if the following represents the inverse demand equation? QD=-12 P + 15 P=0.083 QD + 15 QD = -0.083 P + 180 20

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Price
180
150
120-
90-
60-
30
04
5
10
Quantity
15
20
The figure above shows the demand curve. Which if the following represents the inverse demand equation?
OQD = -12 P + 15
OP=-0.083 QD + 180
P= -12 QD + 180
QD = -0.083 P + 15
P= -12 QD + 15
QD = -12 P + 15
P=0.083 QD + 15
QD = -0.083 P + 180

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