Given a Linear Demand Function of the Form Q_X^d =

question 23

Multiple Choice

Given a linear demand function of the form Q_X^d = 500 − 2P_X − 3P_Y + 0.01M,find the inverse linear demand function assuming M = 20,000 and P_Y = 10.

• A) P_X = 500 − 2Q_X − 3P_Y + 0.01M
• B) P_X = 335 − 0.5Q_X
• C) P_X = 335 − 2Q_X
• D) P_X = 500 − 2Q_X

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Definitions:

Spanking

A form of punishment that involves hitting the buttocks of another person to cause physical pain.

Conditioned

In behavioral psychology, refers to responses or behaviors that have been learned or acquired through conditioning, which involves associating a previously neutral stimulus with a stimulus that naturally evokes a response.

Positive Reinforcer

A desirable stimulus that increases the likelihood of a behavior being repeated when it is presented following that behavior.

Money

A medium of exchange in the form of coins and banknotes; used to facilitate the sale, purchase, or trade of goods and services.