Explain inverse demand and supply functions

Reference no: EM13175693

Consider a market characterized by the following inverse demand and supply functions: PX = 50 - 4QX and PX = 10 + 2QX. Compute the surplus producers receive when a $30 per unit price floor is imposed on the market.
A $75.
B $25.
C $35.
D $50.

Reference no: EM13175693

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