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1. Consider the (inverse) supply function: Pv = 145 + 2.75 Qv, what is the total...

1. Consider the (inverse) supply function: Pv = 145 + 2.75 Qv, what is the total cost of producing Q = 26.5 units?

2. Consider the (inverse) supply function: Pv = 60 + 14.25 Qv, what is the total cost of producing the units from Q = 4.5 to Q = 10.2?

Assume zero fixed costs and competitive markets for both problems.

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