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Suppose the state is trying to decide how many miles of a very scenic river it should preserve. There are 100 people in the community, each of whom has an identical inverse demand function given by P = 10-1.0q, where q is the number of miles preserved and P is the per mile price he or she is willing to pay for q miles of preserved river. If the marginal cost of preservation is $500 per mile, how many miles would be preserved in an efficient allocation?
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Inverse supply and demand functions?
Q=-200+50P inverse supply function
How can one determine the inverse demand function for a given market?
To determine the inverse demand function for a market, you can start by collecting data on the market price and quantity demanded. Plotting this data on a graph and finding the slope will help you derive the inverse demand function, which shows the relationship between price and quantity demanded in the market.
Write five Demand function IN MANEGERIAL ECONOMICS?
m
Why price on y-axis in demand function?
bez when demand function have price on y-axis, its mean that price have the inverse relation to the demand, in other words price lead to demand curve.
A graph of a complementary good in economics?
A graph of complimentary goods in economics represents the relationship between the price of of commodity & demand for it's complementary. Thus it shows a inverse relationship.
Inverse supply and demand functions?
Q=-200+50P inverse supply function
How can one determine the inverse demand function for a given market?
To determine the inverse demand function for a market, you can start by collecting data on the market price and quantity demanded. Plotting this data on a graph and finding the slope will help you derive the inverse demand function, which shows the relationship between price and quantity demanded in the market.
Write five Demand function IN MANEGERIAL ECONOMICS?
m
Why price on y-axis in demand function?
bez when demand function have price on y-axis, its mean that price have the inverse relation to the demand, in other words price lead to demand curve.
A graph of a complementary good in economics?
A graph of complimentary goods in economics represents the relationship between the price of of commodity & demand for it's complementary. Thus it shows a inverse relationship.
What is the relationship between consumer demand and income levels when considering inferior goods in economics?
In economics, there is an inverse relationship between consumer demand and income levels for inferior goods. This means that as income levels increase, the demand for inferior goods decreases, and vice versa.
In economics what is the meaning of the term 'demand curve'?
Graphical representation of law of demand that is change in quantity demanded due to change in price keeping other factors constant is demand curve. It is downward sloping as there is inverse relation between price and quantity demanded.
A demand line shows an inverse relationship?
demand line shows an inverse relationship
What are the key factors influencing the cobb-douglas demand function in economics?
The key factors influencing the Cobb-Douglas demand function in economics are the prices of the goods or services, the income of consumers, and the preferences of consumers. These factors determine how much of a good or service consumers are willing and able to purchase.
What is the inverse demand function of Q equals 150-5P?
155
How is the law of demand related to the demand curve?
Law of demand is the reason of the downward sloping of demand curve.Law of demand states the inverse relationship of demand of a commodity and it's price,and demand curve represents this inverse relationship of demand and price.So in this way they both are related.
How is law of demand related to the demand curve?
Law of demand is the reason of the downward sloping of demand curve.Law of demand states the inverse relationship of demand of a commodity and it's price,and demand curve represents this inverse relationship of demand and price.So in this way they both are related.
