--%>
Assignment Help - homework help

Illustrates the Demand function of a commodity

Illustrates the Demand function of a commodity?

E

Expert

Verified

Demand function of a commodity can be described as given below:
D = f (P, Y, T, Ps, U)

Here, Quantity demanded is D and Price of the commodity is P, Y is Income of the consumer, Taste and preference of consumers is T and Ps is Price of substitutes as well as U is Consumers expectations & others and f is Function of (shows how variables are associated).

   Related Questions in Managerial Economics

  • Q : Offsets the amount of revenue to added

    Profit maximizing firms will adjust their employment of labor till the last employee hired adds: (w) more to the firm’s revenue than this adds to cost. (x) more to the firm’s cost than this adds to the firm’s revenue. (y) an amount o

    		•
  • Q : Illustrates the term long run

    Illustrates the term long run production function?

    		•
  • Q : Illustrates the meaning of Demand

    Illustrates the meaning of Demand?

    		•
  • Q : Total wage payments by increase in wage

    Increasing the wage from $9 to $15 will cause Plastibristle’s total hourly wage payments to: (w) rise by about $900. (x) rise by about $1500. (y) fall by about $900. (z) fall by about $1500. <

    		•
  • Q : Illustrates managerial Economics

    Illustrates the managerial Economics according to Michael Baye? Answer: In the words of Michael Baye as this term Managerial Economics is the study of how to directl

    		•
  • Q : Pure economic rents Pure economic rents

    Pure economic rents for different parcels of land do not reflect differences within their: (1) marginal productivities. (2) fertility. (3) quantities of valuable minerals and ores. (4) amounts of capital improvements. (5) relative capability to reduce

    		•
  • Q : Occupational Crowding in Wage

    Disadvantaged groups have historically been pressured toward low wage jobs in a procedure termed as: (1) occupational crowding. (2) labor staggering. (3) systemic discrimination. (4) reverse favoritism. (5) nepotism.

    Q : Determine loss in curve of profit or

    As is given figure below. Assume that the prevailing price is P1 and the firm is now producing its loss-minimizing quantity. Determine the area which shows the loss: w) P2deP1. x) P3cbP1. y) P3caP0

    		•
  • Q : Coupon Electrical utility is offering a

    Electrical utility is offering a security, known as zero coupon bond for sale. The terms of the security are investors pay 2337.57 today to purchase the security and the utility will pay the owner of the security 10000 in ten years time. The government is offering a similar security; except that thi

    		•
  • Q : Limitations of Marginal Costing Write

    Write down the limitations of Marginal Costing?

    		•