Demand is what the consumer can and is willing to buy at a given price over a given time period. Analyzing demand is a complicated process that takes into account many variables. Economists and ...
Consumer surplus is the amount exceeding an equilibrium price the consumer is willing to pay. The equilibrium price is an idealized price, in which the demand for the good equals its supply. If the ...
The first section of this paper deals with the properties any demand system should have if it is derived from any utility function. We find that the utility function under consideration could not be ...
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