Answers
Answer
Demand curve is negatively sloped and supply curve is positively slope in this question.
We can get this from inverse functions. Inverse demand function
P= 12/3 - 1/3 q, so, slope is -1/3 i.e negative
And inverse function of supply curve is
P = 3/2 + 1/2 q , so, slope is 1/2 i.e. Positive
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