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Determine the supply function and inverse supply function

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Reference no: EM132162876

Suppose the supply function for product Xis given by Q: = -30 + 2 Px - 4 P2• (LO1)

a. How much of product Xis produced when Px =$600 and P2 =$60?

b. How much of product Xis produced when Px =$80 and Pz =$60?

c. Suppose Pz = $60. Determine the supply function and inverse supply function for good X. Graph the inverse supply function.

Reference no: EM132162876

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