The consumer’s demand function for a good in general depends on the prices of all goods...

The consumer’s demand function for a good in general depends on the prices of all goods and income. Why? How about the demand function derived from the Cobb-Douglas utility function?

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The demand function for a commodity is the amount of it that a consumer will purchase it at various given price during a period of time. demand function of a commodity describe the relationship between quantity demand of it and factor that influence it . individual's demand for a commodity depends on its own price, income, available alternative, individual's taste, price of a related commodity (which may be either substitute or complementary ) and many other factors.

Rahul Sunny answered 2 years ago

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