Given a demand function of D(P)= 500 - 10P,what is it's inverse demand function?
A) D(P) = 50 - P
B) P(Q) = 50P
C) P(Q) = 50 - Q/10
D) P(Q) = 500 - 10Q

Question

Quizplus · Accepted Answer

The inverse demand function is found by solving the demand function for P. Starting with D(P) = 500 - 10P, we solve for P to get P = (500 - D)/10. Since D is the quantity demanded (Q), we rewrite it as P(Q) = 50 - Q/10.

Given a Demand Function of D(P)= 500 - 10P,what Is