Answer
Equation for demand is the form of
Q=a+bP
a=x-axis intercept=6000
and b=slope
Using the point the curve (0, 60)
0=6000+b60
b60=-6000
b=-6000/60=-100
Then the equation is
Q=6000-100P
The inverse of the curve is
Q=6000-100P
100P=6000-Q
P=60-0.01Q
So the curve is
P=60-0.01Q
Option 3
Refer to the graph below: Price (Dollars) 6,000 Quantity The equation for demand is O Q=6,000...
Refer to the graph below: Price (Dollars) 6,000 Quantity Demand is unitary elastic at P = $_ ооооо
Refer to the graph below: Price (Dollars) 6.000 Quantity The equation for marginal revenue is OMR = 12,000 - 1200 OMR = 6,000 -0.010 OMR = 60 -0.020 OMR = 60 - 2000
Refer to the graph below: Price (Dollars) 6,000 Quantity Marginal revenue is zero at Q= 0 1,00 units O O 3,000 units 6,000 units 2,000 units
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