A linear demand curve is a line representing the relationship between the demand for a product or service and its price. Everyone knows that sales are proportional to price: The more you charge for an ...

Find out how and why mathematics is used in microeconomics, its limitations, and the math skills that economics students need.

Analysis and construction of demand curves are part of microeconomics, which studies economic situations and reactions and applies it to small business. You can use demand curves as a small business ...

Learn about choke price, the point where demand for a product hits zero. Explore how it influences consumer behavior, pricing ...

1. An indifference curve is defined as a set of bundles that a consumer with a given income can afford, and among which she or he is indifferent. 2. More is preferred to less means that if the total ...