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Tag Archives: deriving demand curve
The Demand Curve for Fashion Markets “Misbehaves”.
The down-sloping demand curve of neoclassical microeconomics looks unassailable. With less price there is more demand, that is why its slope is negative. It is continuous, which means everything goes smoothly, without gaps or kinks. If price goes up, demand … Continue reading
Market Demand under the Assumption of Increasing Marginal Utility
The diminishing marginal utility principle is a cornerstone of the neoclassical theory of markets. It is axiomatic by nature, based on seemingly obvious patterns of consumer behavior. Although there are cases of increasing marginal utility for consumers, the mainstream market … Continue reading
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