Demand Function Faced by a Firm
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Description
The relationship that identifies the determinants of the demand for a commodity face by a firm. These include the price of the commodity, the number of consumers in the market, consumers' incomes, the price of related commodities, tastes, and other forces that are specific to the particular industry and firm.
Concept Prerequisite
Wikipedia Reference
Learning Material
Covered in Topic(s)
| Demand Theory |