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demand function -- a behavioral relationship between quantity consumed and a person's maximum willingness to pay for incremental increases in quantity. It is usually an inverse relationship where at higher (lower) prices, less (more) quantity is consumed. Other factors which influence willingness-to-pay are income, tastes and preferences, and price of substitutes.
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What is the difference between demand function and demand schedule?
Demand schedule: a list of demand/price equivalencies. It can best be seen as a table with discrete points. Demand function: a continuous function of price-demand interaction. Main difference: schedule is discrete; function is continuous.
What is a demand curve and how it is different from demand function?
The demand curve demonstrates what happens when a product is demanded by customers. A demand function refers to an event that can affect the demand curve.
Why price on y-axis in demand function?
bez when demand function have price on y-axis, its mean that price have the inverse relation to the demand, in other words price lead to demand curve.
What is demand function.what are its determinants of demand function?
the determinats demand are prices and non price factor
What is demand and quantity of demand?
Demand is a function that defines how much of a certain good are the consumers willing to purchase at a given price.Quantity of demand is the quantity of a certain good the consumers are willing to purchase at a given price, as defined by the function of demand.
What is the difference between demand function and demand schedule?
Demand schedule: a list of demand/price equivalencies. It can best be seen as a table with discrete points. Demand function: a continuous function of price-demand interaction. Main difference: schedule is discrete; function is continuous.
What is a demand curve and how it is different from demand function?
The demand curve demonstrates what happens when a product is demanded by customers. A demand function refers to an event that can affect the demand curve.
Why price on y-axis in demand function?
bez when demand function have price on y-axis, its mean that price have the inverse relation to the demand, in other words price lead to demand curve.
What is demand function.what are its determinants of demand function?
the determinats demand are prices and non price factor
What is demand and quantity of demand?
Demand is a function that defines how much of a certain good are the consumers willing to purchase at a given price.Quantity of demand is the quantity of a certain good the consumers are willing to purchase at a given price, as defined by the function of demand.
What is the function of demand?
In straight proportion
How do you convert marshalian demand function in to hicksian demand function?
since I do not know the answer,guys if it is clear for you send the answer via habtamuasitatikie@gmail.com
What is linear demand function and it relevant to a firm?
A linear demand function means that any change in the price of the output will have the same effect on the quantity demanded, whatever the price was. It has little relevance to a firm since the demand function is never really linear.
What is the function equation of demand?
The demand function relates price and quantity. It tells how many units of a good will be purchased at different prices. In general, at a higher price, less will be purchased. Thus, the graphical representation of the demand function (often referred to as the demand curve) has a negative slope.
What is the propuse of a demand schedule?
A demand schedule allows the construction of a demand function which can be used to solve mathematical problems involving demand (such as finding equilibrium demand and price).
What is the demand function for P150-Q?
what is economic system
The demand for concert tickets depends on the price per ticket Thus the demand is a function of the price If this function is called Dp use the formula below to compute D15 the demand for tic?
D(15) = 2115 - 255
