Definition of Inverse Demand Function

Definition:

An inverse demand function is a function p(q) that maps from a quantity of output to a price in the market; one might model the demand a firm faces by positing an inverse demand function and imagining that the firm chooses a quantity of output. (Econterms)

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Econterms. "Definition of Inverse Demand Function." ThoughtCo, Jun. 19, 2014, thoughtco.com/definition-of-inverse-demand-function-1146120. Econterms. (2014, June 19). Definition of Inverse Demand Function. Retrieved from https://www.thoughtco.com/definition-of-inverse-demand-function-1146120 Econterms. "Definition of Inverse Demand Function." ThoughtCo. https://www.thoughtco.com/definition-of-inverse-demand-function-1146120 (accessed November 19, 2017).