Given the demand function Q = 100 - 10P, where P corresponds to
price, do the following:
Plot the respective demand function. Be sure to label your
axes. For what price will Q = 0? When P = 0, what is Q?
Derive the expression for the own-price elasticity. Is the
own-price elasticity constant along all points on the demand curve?
What price range insures that the demand for Q is inelastic?
Derive the inverse demand function. That is,...