Content deleted Content added
Citation bot (talk | contribs) Alter: pages. Add: authors 1-1. Removed parameters. Formatted dashes. Some additions/deletions were parameter name changes. | Use this bot. Report bugs. | Suggested by Abductive | #UCB_webform 1944/3833 |
m typo: "it is", instead of "is is" |
||
Line 1:
In [[economics]], an '''inverse demand function''' is the mathematical relationship that expresses price as a [[function (mathematics)|function]] of quantity demanded (
Historically, the economists first expressed the price of a good as a function of demand (holding the other economic variables, like income, constant), and plotted the price-demand relationship with demand on the x (horizontal) axis (the [[demand curve]]). Later the additional variables, like prices of other goods, came into analysis, and it became more convenient to express the demand as a [[multivariate function]] (the '''demand function'''):
| |||