Inverse demand function: Difference between revisions

Content deleted Content added
top: the restriction is not needed. If someone wants to keep Marshall here (I do not think this is useful), note the Marshallian demand function
top: will be defined here
Line 1:
In [[economics]], an '''inverse demand function''' is the [[inverse function]] of a [[demand curve|'''demand function]]'''. The inverse demand function views price as a function of quantity.<ref>{{Cite book|title=Intermediate microeconomics : with calculus|last=R.|first=Varian, Hal|date = 7 April 2014|isbn=9780393123982|edition= First|___location=New York|pages=115|oclc=884922812}}</ref>
 
Quantity demanded, ''Q'', is a function <math>f</math> (the demand function) of price; the inverse demand function treats price as a function of quantity demanded, and is also called the price function:<ref>Samuelson, W and Marks, S Managerial Economics 4th ed. page 35. Wiley 2003.</ref>