Firms usually decide how many workers to employ based on how much income each worker generates for the company after deducting employment expenses. Managers estimate how much income workers generate ...

A linear demand curve is a line representing the relationship between the demand for a product or service and its price. Everyone knows that sales are proportional to price: The more you charge for an ...

The consumer surplus increases as the price of a good falls and decreases as the price of a good rises. It's depicted visually by economists as the triangular area under the demand curve between the ...