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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
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.
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.
Inverse supply and demand functions?
Q=-200+50P inverse supply function
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.
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 is the inverse demand function of Q equals 150-5P?
155
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.
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.
What are importance of elasticity of demand in economics?
Importance of elasticity in economics
What does the term demand refer to in economics?
The term demand in economics refers to the total amount of demand at all possible prices. Demand's definition is how much the consumers want a product.
Explain law of demand?
Law of demand is an important law of economics. It establishes a relationship between price and demand.other things renaming the same when the price of commodity falls its demand will go up likewise,when the price of the commodity rises its demand will fall price and demand moves in opposite direction.there is inverse relationship between demand and price.in other words low price high demand high price low demand.
