Question

Roisse demand function

Answer 1

[AI-generated answer — Bot GPT 3.5]

The Roisse demand function represents the relationship between the quantity demanded of a product and its price, along with other factors that influence demand. The general form of the Roisse demand function is:

Qd = f(P, X1, X2, ... Xn)

Where:
- Qd is the quantity demanded of the product
- P is the price of the product
- X1, X2, ..., Xn are other independent variables that affect demand, such as income, prices of related goods, consumer tastes, etc.

The specific functional form of the Roisse demand function can vary depending on the context and assumptions made by the researcher or economist. Examples of common functional forms used in empirical economics include linear, log-linear, quadratic, and other functional forms.

It is important to note that the Roisse demand function is used to estimate the relationship between price and quantity demanded, while holding other factors constant. The coefficients and statistical significance of these variables provide insights into the price elasticity of demand and other demand-related information.