The supply function for some product is given by
q=2p^2 +12p−14 (p≥1).
Find the inverse supply function. (hint: complete the square!)
Show that b(p) is a one-to-one function. Then find the inverse function (in other words, write p as a function of b).
a) p = √ 2 q + 3 2 − 3 is the reverse... View the full answer