DemandPrice {EconDemand} R Documentation

## Price and General Propeties Given Quantity

### Description

Finds the prices and returns general propeties when quantities are given of various economics demand systems including Linear, Translog, CES, LES and CREMR.

### Usage

DemandPrice(q, parameter, method, Plot, message)


### Arguments

 q the quantity vector parameter the parameters of the economics demand system. When choosing CREMR demand, it should be three dimensional, otherwise it should be two dimensional. method the demand function used, can be one of Linear, Translog, CES, LES and CREMR Plot a logical value indicating whether the manifold should be plotted message a logical value indicating whether an important message about the computed quantity should be printed

### Value

 price the computed price sales the total sales (revenues) elasticity the elasticity of demand convexity the convexity of demand marginal.revenue the marginal revenues

### Examples

#Set quantity vector
quantity<-c(1,1.1,1.2)
#Use Translog Demand Function
X<-DemandPrice(quantity, c(10,0.5), "Translog", Plot=TRUE, message=TRUE)
#Return the prices
X$price #Return the demand elasticity X$elasticity


[Package EconDemand version 1.0 Index]