4 ms·
Even a small increase in demand can result in a large price change if it pushes into a different part of the demand curve (e.g., if the "cheap" demand has been
by foota 4y ago
Even a small increase in demand can result in a large price change if it pushes into a different part of the demand curve (e.g., if the "cheap" demand has been supplanted with customers willing to pay more then the market price can change drastically).