Question

State the equation of demand function​

Answer 1

Answer:

Explanation:

In its standard form a linear demand equation is Q = a - bP. That is, quantity demanded is a function of price. ... For example, if the demand equation is Q = 240 - 2P then the inverse demand equation would be P = 120 - . 5Q, the right side of which is the inverse demand function.

Answer 2

Answer:

In economics, demand is the quantity of a good that consumers are willing and able to purchase at various prices during a given period of time.[1] The relationship between price and quantity demanded is also called the demand curve. Demand for a specific item is a function of an item's perceived necessity, price, perceived quality, convenience, available alternatives, purchasers' disposable income and tastes, and many other factors.