Is there any specific significance of inverse demand?Is there a class of demand functions that deliver equal...
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Is there any specific significance of inverse demand?
Is there a class of demand functions that deliver equal surplus to consumers and a monopolist?Does the demand for bad quality products increase when there is information asymmetry?Demand for utility function given prices and budgetQuestion on significance of different ways of measuring Price Elasticity of DemandWill price increase as demand increase?Is there an intuitive explanation for the tax incidence formula from elasticity?Teaching changes in “demand” v. “quantity demanded”In which situation does the demand and supply curve both shift?Can marginal revenue be increasing?Is there any formal definition of a relationship between resource availability and demand?
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Why do we need separate form of demand? Where do we use inverse demand form? concept only.
supply-and-demand
asked 10 hours ago
auxilaryauxilary
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$begingroup$
Why do we need separate form of demand? Where do we use inverse demand form? concept only.
supply-and-demand
asked 10 hours ago
auxilaryauxilary
736 bronze badges
$endgroup$
add a comment
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$begingroup$
Why do we need separate form of demand? Where do we use inverse demand form? concept only.
supply-and-demand
asked 10 hours ago
auxilaryauxilary
736 bronze badges
$endgroup$
Why do we need separate form of demand? Where do we use inverse demand form? concept only.
supply-and-demand
supply-and-demand
asked 10 hours ago
auxilaryauxilary
736 bronze badges
asked 10 hours ago
auxilaryauxilary
736 bronze badges
asked 10 hours ago
auxilaryauxilary
736 bronze badges
asked 10 hours ago
auxilaryauxilary
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asked 10 hours ago
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2 Answers
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Inverse demand maps from quantity to value. It is useful to identify how much some units of the good are worth to the consumers. The central welfare concepts of consumer's and producer's surpluses rely on inverse functions in their definitions.
In addition there are special cases (e.g. perfectly inelastic demand) where defining inverse demand is just easier.
answered 10 hours ago
GiskardGiskard
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Adding to the points made in Giskard's answer ...
In a competitive market, price and quantity are simultaneously determined by the intersection of supply and demand. So neither the ordinary market demand function (quantity as a function of price) nor the inverse market demand function (price as a function of quantity) can be considered more significant or fundamental, or as expressing a causal relation in a more natural way.
answered 5 hours ago
Adam BaileyAdam Bailey
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2 Answers
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active
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2 Answers
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$begingroup$
Inverse demand maps from quantity to value. It is useful to identify how much some units of the good are worth to the consumers. The central welfare concepts of consumer's and producer's surpluses rely on inverse functions in their definitions.
In addition there are special cases (e.g. perfectly inelastic demand) where defining inverse demand is just easier.
answered 10 hours ago
GiskardGiskard
13.9k4 gold badges23 silver badges48 bronze badges
$endgroup$
add a comment
|
$begingroup$
Inverse demand maps from quantity to value. It is useful to identify how much some units of the good are worth to the consumers. The central welfare concepts of consumer's and producer's surpluses rely on inverse functions in their definitions.
In addition there are special cases (e.g. perfectly inelastic demand) where defining inverse demand is just easier.
answered 10 hours ago
GiskardGiskard
13.9k4 gold badges23 silver badges48 bronze badges
$endgroup$
add a comment
|
$begingroup$
Inverse demand maps from quantity to value. It is useful to identify how much some units of the good are worth to the consumers. The central welfare concepts of consumer's and producer's surpluses rely on inverse functions in their definitions.
In addition there are special cases (e.g. perfectly inelastic demand) where defining inverse demand is just easier.
answered 10 hours ago
GiskardGiskard
13.9k4 gold badges23 silver badges48 bronze badges
$endgroup$
Inverse demand maps from quantity to value. It is useful to identify how much some units of the good are worth to the consumers. The central welfare concepts of consumer's and producer's surpluses rely on inverse functions in their definitions.
In addition there are special cases (e.g. perfectly inelastic demand) where defining inverse demand is just easier.
answered 10 hours ago
GiskardGiskard
13.9k4 gold badges23 silver badges48 bronze badges
answered 10 hours ago
GiskardGiskard
13.9k4 gold badges23 silver badges48 bronze badges
answered 10 hours ago
GiskardGiskard
13.9k4 gold badges23 silver badges48 bronze badges
answered 10 hours ago
GiskardGiskard
13.9k4 gold badges23 silver badges48 bronze badges
13.9k4 gold badges23 silver badges48 bronze badges
add a comment
|
add a comment
|
$begingroup$
Adding to the points made in Giskard's answer ...
In a competitive market, price and quantity are simultaneously determined by the intersection of supply and demand. So neither the ordinary market demand function (quantity as a function of price) nor the inverse market demand function (price as a function of quantity) can be considered more significant or fundamental, or as expressing a causal relation in a more natural way.
answered 5 hours ago
Adam BaileyAdam Bailey
3,82910 silver badges26 bronze badges
$endgroup$
add a comment
|
$begingroup$
Adding to the points made in Giskard's answer ...
In a competitive market, price and quantity are simultaneously determined by the intersection of supply and demand. So neither the ordinary market demand function (quantity as a function of price) nor the inverse market demand function (price as a function of quantity) can be considered more significant or fundamental, or as expressing a causal relation in a more natural way.
answered 5 hours ago
Adam BaileyAdam Bailey
3,82910 silver badges26 bronze badges
$endgroup$
add a comment
|
$begingroup$
Adding to the points made in Giskard's answer ...
In a competitive market, price and quantity are simultaneously determined by the intersection of supply and demand. So neither the ordinary market demand function (quantity as a function of price) nor the inverse market demand function (price as a function of quantity) can be considered more significant or fundamental, or as expressing a causal relation in a more natural way.
answered 5 hours ago
Adam BaileyAdam Bailey
3,82910 silver badges26 bronze badges
$endgroup$
Adding to the points made in Giskard's answer ...
In a competitive market, price and quantity are simultaneously determined by the intersection of supply and demand. So neither the ordinary market demand function (quantity as a function of price) nor the inverse market demand function (price as a function of quantity) can be considered more significant or fundamental, or as expressing a causal relation in a more natural way.
answered 5 hours ago
Adam BaileyAdam Bailey
3,82910 silver badges26 bronze badges
answered 5 hours ago
Adam BaileyAdam Bailey
3,82910 silver badges26 bronze badges
answered 5 hours ago
Adam BaileyAdam Bailey
3,82910 silver badges26 bronze badges
answered 5 hours ago
Adam BaileyAdam Bailey
3,82910 silver badges26 bronze badges
3,82910 silver badges26 bronze badges
add a comment
|
add a comment
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