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 ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...

The very restrictive nature of systems of supply and demand functions which have constant elasticities is well known. The same is not true of single constant own-price elasticity demand functions.

To set prices that produce sales, small business owners need to understand the demand curves and inverse demand curves for their products and services. Knowing how each curve works will help owners ...