Given a linear demand function of the form QX d = 500 – 2PX – 3PY + 0.01M, find the inverse linear demand function assuming M = 20,000 and PY = 10.
Note
Given a linear demand function of the form QX d = 500 - 2PX - 3PY + 0.01M, find the inverse linear demand function assuming M = 20,000 and PY = 10.ans:PX = 335 - 0.5QX.