Question: Please describe a demand curve and demand function. what equation for a sample demand function and describe it (don't forget to include forecast error).How would

  1. Please describe a demand curve and demand function. what equation for a sample demand function and describe it (don't forget to include forecast error).How would you forecast sales of your product with the demand equation you wrote above. What is price and income elasticity of demand and show the equation for these. How would you measure these from the above demand equation?How are revenues affected from an increase in price with elastic and inelastic demand.

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