In order for a small-business order to price her products or services correctly, she must be able to understand what impact that price will have on demand. In some cases, demand will rise or fall with ...

Abstract: The level of secondary reserve needed in a power system is traditionally settled by system operators according to engineering criteria. This paper proposes a novel methodology to determine ...

Abstract: We propose a method for rationalizing the determination of elastic demand curves for MARI, the mFRR cross-border balancing paltform, in the integrated European balancing process. Elastic ...

The theory of monopoly price has been generally superseded in the literature by the theories of “monopolistic” or “imperfect” competition.71 As against the older theory, the latter have the advantage ...

Managers and accountants estimate their company's demand curve to determine the highest amount they can charge for a product before the drop in demand negatively impacts revenue. When a company has a ...

Before engaging in a critical analysis of the monopoly-price theory itself, we might explore some of the consequences which do or do not follow from it. In this section we for the moment assume that ...