The quantity demanded function for Coca-Cola (Coke), which is a normal good, is
Q=3_(a.)_0.5×PCoke (b.) 4xPPepsi (C.) 10×PStraws (d.)_ 0.01×Y
where
Q= Quantity demanded for Coca-Cola
PCoke =Price of Coca-Cola
PPepsi =Price of Pepsi (a substitute)
PStraws =Price of straws (a complement)
Y = Income
The quantity supplied function of Coca-Cola is
Qₛ=3(e) 1xPCoke (f.) 3xPWater_(g.)_0.5×T
where
Qₛ = Quantity supplied of Coca-Cola
PCoke =Price of Coca-Cola
PWater =Price of water (an input factor)
T = Taxes on the supply of Coca-Cola
The letters is brackets refer to questions one to seven and are placeholders for mathematical signs.
What is the inverse quantity demanded function?
a. Q=5-0.5PCoke
b. PCoke=10-2QD
c. Q-10-1PCoke
d. PCoke = 5-2QD