The demand function is described by the equation q(p)= 130

Question

The demand function is described by the equation q(p)= 130 - p/5.The inverse demand function is described by the equation
A)p(q)= 650 - 5q.
B)p(q)= 1/130- q/5.
C)q(p)= 130 - 5p.
D)q(p)= 1/(130 - p/5).
E)p(q)= 130 - q/5.

Quizplus · Accepted Answer

To find the inverse demand function, you solve the original demand function for p in terms of q. The given demand function is q = 130 - p/5. Solving for p gives p = 650 - 5q, which matches choice A.