Some functions in Business Application
Demand fuction: The law of demand says that the demand of a
commodity varies inversely with its price. Thus, the demand
functions is given by , where is the quantity demanded
of the commodity and is its price.
For example :
, Supply function: The law of supply according to which the supply
of a commodity varies directly with own price. Thus, the supply
functions is given by , where is the quantity supplied
of the commodity and is its price.
For example :
Demand fuction: The law of demand says that the demand of a
commodity varies inversely with its price. Thus, the demand
functions is given by , where is the quantity demanded
of the commodity and is its price.
For example :
, Supply function: The law of supply according to which the supply
of a commodity varies directly with own price. Thus, the supply
functions is given by , where is the quantity supplied
of the commodity and is its price.
For example :
