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How can one determine demand from a utility function?
To determine demand from a utility function, one can use the concept of marginal utility. By calculating the change in utility for each additional unit of a good consumed, one can determine the level of demand for that good. The point at which the marginal utility equals the price of the good represents the optimal level of consumption and therefore the demand for that good.
What are the factors that determine the demand for a composite good?
The factors that determine the demand for a composite good include the price of the good, the prices of substitute goods, consumer preferences, income levels, and the overall economic conditions.
What factors may determine the quantity of a good that buyers demand?
Price of the good in question.
What factors influence the shape of the market demand curve for a public good?
The shape of the market demand curve for a public good is influenced by factors such as the level of individuals' willingness to pay for the good, the number of people who benefit from the good, and the availability of substitutes for the good.
What are needed to determine the equilibrium price of a good or service?
Consumers have inelastic demand
How can one determine demand from a utility function?
To determine demand from a utility function, one can use the concept of marginal utility. By calculating the change in utility for each additional unit of a good consumed, one can determine the level of demand for that good. The point at which the marginal utility equals the price of the good represents the optimal level of consumption and therefore the demand for that good.
What are the factors that determine the demand for a composite good?
The factors that determine the demand for a composite good include the price of the good, the prices of substitute goods, consumer preferences, income levels, and the overall economic conditions.
What factors may determine the quantity of a good that buyers demand?
Price of the good in question.
What can greatly determine the price and availability of a good or service?
supply and demand?
What factors influence the shape of the market demand curve for a public good?
The shape of the market demand curve for a public good is influenced by factors such as the level of individuals' willingness to pay for the good, the number of people who benefit from the good, and the availability of substitutes for the good.
What are the factors determine the volume of production?
hwo to damand the cause of good sold.....how to determine the demand of production
What are needed to determine the equilibrium price of a good or service?
Consumers have inelastic demand
What is needed to determine equilibrium price of a good or a service?
a supply curve and a demand curveA supply curve and a demand curve.
What is needed to determine the equilibrium price of a good or services?
a supply curve and a demand curveA supply curve and a demand curve.
What factors determine the demand for a normal good in the market?
The demand for a normal good in the market is determined by factors such as consumer income, price of the good, prices of related goods, consumer preferences, and advertising and marketing efforts.
What are the factor that determines volume of production?
hwo to damand the cause of good sold.....how to determine the demand of production
How does the market determine the price and the quantity supplied in demand?
it depends upon the demand of the people.... if demand of a particular commodity increases then the supply will automatically increase and in case of shortage, the suppliers would raise the prices of that specific good.
