Economists often use demand curves to illustrate the fluid paradigm of consumer demand in a particular market. Small-business owners also can use demand curves to understand consumer behavior. For ...

An Excel workbook called DemandCurve.xls provides a simple example of how to use Solver and the Comparative Statics Wizard to set up a standard consumer theory optimization problem and then derive a ...

Firms usually decide how many workers to employ based on how much income each worker generates for the company after deducting employment expenses. Managers estimate how much income workers generate ...

the notable demand alteration that occurs when an economic factor - such as the price of the good or service - changes. Elastic demand, as mentioned above, is the considerable change in the ...