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Math Help - can you guys help me on a question

  1. #1
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    can you guys help me on a question

    If the quantity supplied of a commodity Qs (measured in tonnes per week) is a function of its price P (measured in per tonne) such that:
    Qs = 2*P-8

    a) Find the inverse function, in other words generate an equation for P in terms of Qs. (3 marks)
    b) Identify the maximum price level P at which the quantity supplied Qs is zero. (2 mark)
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  2. #2
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    Quote Originally Posted by shakir007 View Post
    If the quantity supplied of a commodity Qs (measured in tonnes per week) is a function of its price P (measured in per tonne) such that:

    Qs = 2*P-8


    a) Find the inverse function, in other words generate an equation for P in terms of Qs. (3 marks)
    b) Identify the maximum price level P at which the quantity supplied Qs is zero. (2 mark)
    a) If Q_s = 2P - 8

    Q_s + 8 = 2P

    P = \frac{1}{2}(Q_s + 8)

    P = \frac{1}{2}Q_s + 4.

    b) If Q_s = 0 you have

    P = \frac{1}{2}\cdot 0 + 4

    P = 4.
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