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What is the difference between a demand function and a demand curve?

How will each of the following affect the position of the demand curve for videocassette recorders?
a. An increase in the price of VCR tapes.
b. A decrease in the price of VCRs.
c. An increase in per capita income.
d. A decrease in the price of movie tickets.

If the demand for a product is inelastic, what will happen to total revenue if price is increased? Explain.

What signs are the cross elasticities for substitute products? Explain.

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Business Management, Management Studies

Category:- Business Management
Reference No.:- M9735688

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