The Inverse Demand Function for Cantaloupes Is Defined by the Equation

question 7

Multiple Choice

The inverse demand function for cantaloupes is defined by the equation p = 305 - 5q, where q is the number of units sold. The inverse supply function is defined by p = 8 + 4q. A tax of $45 is imposed on suppliers for each unit of cantaloupes that they sell. When the tax is imposed, the quantity of cantaloupes sold falls to

• A)28
• B)33
• C) 21.75.
• D)26.
• E) 30.50.

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