Where x is the quantity of good X demanded, the inverse demand function for X A) expressesas a function of prices and income. B) expresses the demand for x as a function ofand income, where p_x is the price of x. C) expresses the demand for x as a function ofand, where m is income. D) specifiesas a function ofand, where m is income. E) None of the above.

Question

Quizplus · Accepted Answer

The inverse demand function expresses price as a function of quantity demanded, not as a function of income or other variables.

Where X Is the Quantity of Good X Demanded, the Inverse