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Suppose the estimated market demand and supply

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Suppose the estimated market demand and supply (bottles/month) for a new product call hydro water are given by:

Qd = -50P + 1000

Qs = 100P - 500

where Qd is the market demand, Qs is the quantity supplied and P is price of a 1 liter of bottled hydro water. The market is assumed to be competitive.

Write the inverse demand function and supply function

Reference no: EM132480037

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