The Inverse Demand Function for Grapefruit Is Defined by the Equation

question 4

Multiple Choice

The inverse demand function for grapefruit is defined by the equation p = 136 - 4q, where q is the number of units sold.The inverse supply function is defined by p = 16 + 4q.A tax of $16 is imposed on suppliers for each unit of grapefruit that they sell.When the tax is imposed, the quantity of grapefruit sold falls to

• A)13
• B)11
• C)11.
• D)15
• E)14.