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The supply curve for product X is given by QXS = -300 + 10PX . a....

The supply curve for product X is given by QXS = -300 + 10PX . a. Find the inverse supply curve. P = + Q b. How much surplus do producers receive when Qx = 300? When Qx = 800? When QX = 300: $ When QX = 800: $

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SOLUTION: a. The inverse supply curve, which express price as function of quantity supplied, is Q+300 Q Po= 1000 = 음 +30 Px 0.1Qx+30 b. When Qx 300; Px300/10+30 60 When Qx-800; Px 800/10+30 110

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