Stephan Abraham is a marketing manager and winner of multiple vendor partnership awards. He has 18+ years of experience as a stock trader. Suzanne is a content marketer, writer, and fact-checker. She ...

The elasticity of demand measures exactly this: how does the quantity demanded by consumers change in relation to changes in prices. In other words, how much can the seller ‘stretch’ prices (like an ...

Economics is a social science that studies the collection, allocation and distribution of economic resources. Business owners use the study of economics to help them make business decisions. Not only ...

The challenge is wrapping your head around the difference between elasticity and inelasticity of demand. Elasticity of demand measures how much the demand for a product or service changes relative to ...

Every cloud has a silver lining and while the avian flu epidemic hurts virtually all consumers and many producers, it has teachers of introductory economics positively chortling in delight. Examples ...

Sudden demand surges or supply chains snarls will drive prices up quickly. Businesses face two issues when this happens, First, when a price rises sharply, how long will it take for increased supply ...

International Journal of Transport Economics / Rivista internazionale di economia dei trasporti, Vol. 30, No. 1 (FEBRUARY 2003), pp. 45-59 (15 pages) The theory of marginal cost pricing maintains that ...

In an important new study, world-renowned economists -- including a Nobel Prize winner and a MacArthur "genius" -- argue that when demand for a good is inelastic, the cost of making consumption ...

William Baumol writes in "Economics: Principles and Policy" that the total monetary utility of a collection of goods to a consumer is equal to the largest amount of money the consumer will pay in ...

The demand for gambling, 155.--Elasticity of demand, 156.--Demand for bookmakingin Nevada, 157.--Parimutuel betting, 158.--Price, tax, and state revenue, 160. Journal Information The Quarterly Journal ...