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The demand curve for a truckload of firewood for college students in a small town is Qc=500-p.

It is sometimes convenient to rewrite a demand curve equation with price on the left hand side. We refer to such a relationship as the inverse demand curve. ​ Therefore, the inverse demand curve for college students is....

Text Question 1.4 The demand curve for a truckload of firewood for college students in a small town is Q 500-p. It is sometimes convenient to rewrite a demand curve equation with price on the left hand side. We refer to such a relationship as the inverse demand curve. Therefore, the inverse demand curve for college students is p 500 Q C- Enter your answer in the answer box and then click Check Answer parts remaining CleaText Question 1.4 p = 500-Q. C- The demand curve for other town residents is Qr = 500-2p. What is the inverse demand curve for other town residents? The inverse demand curve for other town residents is Enter your answer in the answer box and then click Check Answe 4 Peamaining partsDCollege sudent -450 350- 300 Dher residents a 25 150 1002הח300 400 500 600 700 800 900 1000 Q, Quantty of lumber

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Answer #1

Qr = 500 - 2p

Inverse demand curve for other town residents:

p = 250 - Qr/2

Graphs have been drawn correctly.

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