Inverse demand function: Difference between revisions

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In [[economics]], an '''inverse demand function''' is the [[inverse function]] of a [[demand curve|demand function]]. The inverse demand function is the demand function viewingviews price as a function of quantity.<ref>{{Cite book|url=https://www.worldcat.org/oclc/884922812|title=Intermediate microeconomics : with calculus|last=R.|first=Varian, Hal|publisher=|year=|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>

:<math>P = f^{-1}(Q).</math>

==Definition==