DemandQuantity {EconDemand} R Documentation

Quantity and General Propeties Given Price

Description

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

Usage

DemandQuantity(p, parameter, method, Plot, message)


Arguments

 p the price 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

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

Examples

#Set price vector
price<-c(1,1.1,1.2)
#Use Linear Demand Function
X<-DemandQuantity(price,c(10,0.5), "Linear", Plot=TRUE, message=TRUE)
#Return the quantities
X$quantity #Return the marginal revenues X$marginal.revenue


[Package EconDemand version 1.0 Index]