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 ...

Elasticity is an economic concept that demonstrates the effect of a product price change on demand. For example, a product such as milk is an inelastic product, since a price change will not ...

Ecommerce companies suffer from an over abundance of data which comes from different sources, is complied using different methodologies, and rarely tell the same story. In this analysis we focus on a ...

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The theory of monopoly price has been generally superseded in the literature by the theories of “monopolistic” or “imperfect” competition.71 As against the older theory, the latter have the advantage ...

Watchers of the US natural gas market are getting a rude awakening about the outlook for gas supply-demand and prices: Demand for gas is a good deal more elastic than many of the market bulls have ...