2. You are given the following economic functions: Q_(1)=36-_(3)^1p_(i)

The given economic function is:<br /><br />\[ Q_{1} = 36 - p_{i}^{3/1} \]<br /><br />This function represents the quantity demanded (\(Q_{1}\)) of a good as a function of its price (\(p_{i}\)). The exponent \(3/1\) indicates that the price is raised to the power of 3, which affects the quantity demanded.<br /><br />To understand this function better, let's break it down:<br /><br />- The constant term \(36\) represents the quantity demanded when the price is zero.<br />- The term \(- p_{i}^{3/1}\) shows how the quantity demanded changes with the price. Specifically, as the price increases, the quantity demanded decreases.<br /><br />In summary, this function suggests that the quantity demanded of the good decreases as the price increases, with the rate of decrease being influenced by the cubic power of the price.