Answer to Question #70110 in Economics of Enterprise for Melvin Muleya

Question

b) Suppose you decide to produce a beverage and you discover it has a demand function given by

Answer 1

Demand function shows the relationship between quantity demanded for a particular commodity and the factors influencing it.
It can be either with respect to one consumer (individual demand function) or to all the consumers in the market (market demand function).
Reference:
https://www.yourarticlelibrary.com/economics/demand-function-individual-and-market-demand-functions-micro-economics/8880/