The term "inverse demand curve" refers to
A) a demand curve that slopes upward.
B) expressing the demand curve in terms of price as a function of quantity.
C) the demand for "inverses."
D) the difference between quantity demanded and supplied at each price.

Question

Quizplus · Accepted Answer

The term "inverse demand curve" refers to expressing the demand curve in terms of price as a function of quantity. In other words, the inverse demand curve shows the price that consumers are willing to pay for different quantities of a product. It is essentially the opposite of a traditional demand curve, which shows the quantity of a product that consumers are willing to buy at different prices.

The Term "Inverse Demand Curve" Refers to