The demand function is described by the equation q(p) = 30 - . The inverse demand function is described by the equation

Question

The demand function is described by the equation q(p) = 30 -  . The inverse demand function is described by the equation

Quizplus · Accepted Answer

To find the inverse demand function, we need to solve for p in terms of q. Rearranging the given demand function, we get:

p = (30 - q)/(-11)

Simplifying, we get:

p = (q-30)/11

This gives us the inverse demand function:

p(q) = (q-30)/11

Which can also be written as:

q(p) = 11p + 30

Therefore, the correct choice is B, which shows p as a function of q.

The Demand Function Is Described by the Equation Q(p) =