Given a linear supply function of the form QX S = 3,000 + 3PX – 2Pr – Pw, find the inverse linear supply function assuming Pr = $1,000 and Pw = $100.
Note
Given a linear supply function of the form QX S = 3,000 + 3PX - 2Pr - Pw, find the inverse linear supply function assuming Pr = $1,000 and Pw = $100.ans; PX = -300 + 0.3333QX.