ECS2731_2019_SSB_Tutorial 2_Questions (1).docx - ECS2731_2019_SSB_Tutorial 2_Questions 1 The demand curve for a truckload of firewood for college

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ECS2731_2019_SSB_Tutorial 2_Questions 1. The demand curve for a truckload of firewood for college students in a small town is Qc =400-p. It is sometimes convenient to rewrite a demand curve equation with price on the left side. We refer to such a relationship as the inverse demand function. Therefore, the inverse demand curve for college students is p=400-Qc. The demand for other town residents is Q

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