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The supply function for some product is given by q=2p^2 +12p14 (p1). Find the inverse supply function. (hint: complete the square!) b(p)= 10p/(105p)...

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!)


b(p)= 10p/(105−p)

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).

Top Answer

a)  p = √ ​ ​ 2 ​ ​ q + 3 2 ​ ​ ​ ​ ​ − 3  is the reverse... View the full answer

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(a) The inverse supply function is:  p = − 3 + [ √ ​ ​ 2 ​... View the full answer

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