Answer to Question #106244 in Microeconomics for Dee

Question #106244

the inverse demand functions of two towns for a product are given as
( Q1/2)^1/4=P and {2-Q2/10}= P find the market demand of these two towns

Expert's answer

The market Demand is a sum of two demands for two towns:

"P=P_1+P_2"

Then

"P = 2-0.1Q+0.5Q^{1\/4}"

Learn more about our help with Assignments: Microeconomics

Assignment Expert

25.03.20, 16:21

Dear Dee, please use panel for submitting new questions

Dee

24.03.20, 17:26

{2-Q2/10}= P. Please with this equation, the division sign is for both numerators not only the Q2. The denominator 10 divides both numerators.

Dee

24.03.20, 16:00

Thank you so much. For answering me on time.