Do not assume that if you lower your prices, demand will increase enough to make up the difference in income you will receive for products and services. Also, you should not assume that if you raise ...

Economists use elasticity of demand to gauge how responsive consumers are to changes in price and income, but investors can also use elasticity of demand to help make more informed investing decisions ...

As a small-business owner, you need to know how changes in price can affect your income. While you may guess that lowering prices will increase sales, you need to confirm this hunch with a total ...