  Inspired by recent discussions of inverse magnetic catalysis in the
literature, we examine the effects of a uniform external magnetic field on the
chiral phase transition in quenched ladder QED at nonzero chemical potential.
In particular, we study the behaviour of the effective potential as the
strength of the magnetic field is varied while the chemical potential is held
constant. For a certain range of the magnetic field, the effective potential
develops a local maximum. Inverse magnetic catalysis is observed at this
maximum, whereas the usual magnetic catalysis is observed at the true minimum
of the effective potential.
