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The ordinary demand function represents the relationship between the quantity of a good demanded and its price, holding other factors constant. It typically reflects how changes in price influence consumer behavior, with higher prices generally leading to lower quantities demanded, and vice versa. This function can be expressed mathematically, often as a downward-sloping curve on a graph where the x-axis represents quantity and the y-axis represents price. Additionally, it can incorporate other variables such as income and the prices of related goods to provide a more comprehensive understanding of demand.
What else can I help you with?
Why is the ordinary demand curve flatter than a compensated demand curve if the good is a normal good but the reverse is the case if the good is inferior?
because the ordinary demand curve ignores the income effect of price changes.also since the compensated demand curve is less inelastic than an ordinary demand curve.
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 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.
Why is the ordinary demand curve flatter than a compensated demand curve if the good is a normal good but the reverse is the case if the good is inferior?
because the ordinary demand curve ignores the income effect of price changes.also since the compensated demand curve is less inelastic than an ordinary demand curve.
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.
Suppose that the demand function for an ordinary city is p = 100 – 0.01x (in RM) and the cost function is C(x) = 50x + 10 000. Compute the value of x that maximize the profit and determine the corresponding price and total profit for this?
0 that is the answers
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.
How are ordinary shares valuated?
In a free market they are valued by the law of supply and demand.
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 demand function.what are its determinants of demand function?
the determinats demand are prices and non price factor
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
How can one calculate the elasticity of demand from a demand function?
To calculate the elasticity of demand from a demand function, you can use the formula: elasticity of demand ( change in quantity demanded) / ( change in price). This formula helps determine how responsive the quantity demanded is to changes in price.
What is the shortcut for calculating the Cobb-Douglas demand function?
The shortcut for calculating the Cobb-Douglas demand function is to take the partial derivative of the function with respect to the price of the good in question.
