Answer to Question #229134 in Microeconomics for Lulu

Question

State the different ways in which the demand function can be represented

Answer 1

The demand function can be represented as:

a) linear demand function

The slope remains constant along the demand line throughout its length.

b) non linear demand curve

The slope changes along the demand curve (ΔP/ΔQ) and the demand resulting into a demand curve instead of a line