In economics, a demand curve represents the relationship between the quantity of a product demanded and its price. It is almost always downward-sloping, as more people are willing to buy the product ...

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 ...

Consumer surplus ... supply and demand diagrams, it appears as the triangular area between the demand curve and the market price line (see below). As such, it puts a number to the feeling you have ...

Monopolies are quite common in business. If you offer a product or service that no one else has, then you possess a monopoly. In time, competitors probably will aim to match or improve upon your ...

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 ...