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Why price an independable variable and demand is dependent variable?

Because demand creates the price, and not the price dictates the demand.


What is variable demand stochastic demand deterministic demand?

stochastic demand is random demand. it is determined by predictable actions and a random element.


What is the key variable affecting demand?

price


What types of goods have variable demand?

Luxuries


The key variable affecting demand is?

price


Food cost fixed or variable?

The cost of all food is variable, depending on supply and demand.


If the elasticity of demand for a good at a certain price is greater than One we describe demand as?

Variable


Daily life examples about differential equations?

Here are two variablesDemand and Price, whereas Price is Independent variable &Demand is dependent variable, i.e. if price of something changes the demand will also be affected. Now simple Differential Equation isd (Demand)= constantd (Price)But keep in mind that Price is a function not a simple variable.


What is the difference that exists between arc elasticity of demand and point elasticity of demand?

Arch elasticity demand is the percentage change in one variable divided by the percentage change in another variable, it calculates the elasticity over a range of values, while point elasticity of demand uses differential calculus to determine the elasticity at a specific point


What is a variable asset?

the asset value which changes with respect to the demand constraints is called varible asset


What are the problems faced in determining the demand for a durable good?

The demand for durable goods will increase until saturation. Calculating the demand is daunting. Opening new markets creates even a greater variable for this prediction.


What are the problems faced in determining the demand for a durable goods?

The demand for durable goods will increase until saturation. Calculating the demand is daunting. Opening new markets creates even a greater variable for this prediction.