(c) If income increases to $6000, with
P
Y
at $20/unit, then what is
X
D
as a function
of
P
X
alone? Write the equation in two ways: in the form
X
D
+
bP
X
and
in the
form
P
X
=
c
+
dX
D
.
(d) Sketch a graph of your answers to (a), (b), and (c), with
X
on the horizontal axis
and
P
X
on the vertical axis.
6. Suppose that
X
D
=
38 –
P
X
– 0.05
P
X
P
Y
– 0.4
P
Y
+ 2
M
, with units the same as in ques
tion 5.
(a) If
P
Y
= $20/unit and income is $10,000, then what is
X
D
as a function of
P
X
alone?
Write the equation in two ways: in the form
X
D
+
bP
X
and
in the form
P
X
=
c
+
dX
D
.
(b) If
P
Y
becomes $10/unit, with income still $10,000, then what is
X
D
as a function
of
P
X
alone? Write the equation in two ways: in the form
X
D
=
a
+
bP
X
,
and
in the
form
P
X
=
c
+
dX
D
.
M110
MATH MODULE 1: FUNCTIONS, GRAPHS, AND THE COORDINATE SYSTEM
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 Fall '12
 Danvo
 Supply And Demand, Monotonic function, Math Module, Julie y

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