The Solo Coal Mine Is the Only Employer in the Small

question 31

Multiple Choice

The Solo Coal Mine is the only employer in the small town of Way out there.The market supply of coal miners is Q^s = 0.02W - 200 and Q^d = 500 - 0.02W,where W is the annual wage of a coal miner and Q is the number of coal miners.What is the inverse demand function for coal miners?

• A) W = 0.02Q - 500
• B) W = 0.02Q + 500
• C) W = 25,000 - 50Q
• D) W = 200Q + 50,000

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