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 DemandIs there an intuitive explanation for the tax incidence formula from elasticity?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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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 DemandIs there an intuitive explanation for the tax incidence formula from elasticity?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 Sep 29 at 13:44
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 Sep 29 at 13:44
auxilaryauxilary
886 bronze badges
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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 Sep 29 at 13:44
auxilaryauxilary
886 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 Sep 29 at 13:44
auxilaryauxilary
886 bronze badges
asked Sep 29 at 13:44
auxilaryauxilary
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asked Sep 29 at 13:44
auxilaryauxilary
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asked Sep 29 at 13:44
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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 Sep 29 at 14:06
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 Sep 29 at 19:04
Adam BaileyAdam Bailey
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2 Answers
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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 Sep 29 at 14:06
GiskardGiskard
15.7k5 gold badges27 silver badges50 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 Sep 29 at 14:06
GiskardGiskard
15.7k5 gold badges27 silver badges50 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 Sep 29 at 14:06
GiskardGiskard
15.7k5 gold badges27 silver badges50 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 Sep 29 at 14:06
GiskardGiskard
15.7k5 gold badges27 silver badges50 bronze badges
answered Sep 29 at 14:06
GiskardGiskard
15.7k5 gold badges27 silver badges50 bronze badges
answered Sep 29 at 14:06
GiskardGiskard
15.7k5 gold badges27 silver badges50 bronze badges
answered Sep 29 at 14:06
GiskardGiskard
15.7k5 gold badges27 silver badges50 bronze badges
15.7k5 gold badges27 silver badges50 bronze badges
add a comment
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add a comment
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$begingroup$
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 Sep 29 at 19:04
Adam BaileyAdam Bailey
4,35710 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 Sep 29 at 19:04
Adam BaileyAdam Bailey
4,35710 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 Sep 29 at 19:04
Adam BaileyAdam Bailey
4,35710 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 Sep 29 at 19:04
Adam BaileyAdam Bailey
4,35710 silver badges26 bronze badges
answered Sep 29 at 19:04
Adam BaileyAdam Bailey
4,35710 silver badges26 bronze badges
answered Sep 29 at 19:04
Adam BaileyAdam Bailey
4,35710 silver badges26 bronze badges
answered Sep 29 at 19:04
Adam BaileyAdam Bailey
4,35710 silver badges26 bronze badges
4,35710 silver badges26 bronze badges
add a comment
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add a comment
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