Supply and demand curves express relationships between price and quantity. Equilibrium exists when supply equals demand. The shape of these curves and the equilibrium price affect small and large ...

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 ...

Sean Ross is a strategic adviser at 1031x.com, Investopedia contributor, and the founder and manager of Free Lances Ltd. Robert Kelly is managing director of XTS Energy LLC, and has more than three ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Dr. JeFreda R. Brown is a financial ...