Do not assume that if you lower your prices, demand will increase enough to make up the difference in income you will receive for products and services. Also, you should not assume that if you raise ...

Mary Hall is a editor for Investopedia's Advisor Insights, in addition to being the editor of several books and doctoral papers. Mary received her bachelor's in English from Kent State University with ...

Discover how price inelasticity affects demand stability, consumer behavior, and revenue, even with price changes. Learn why businesses and policymakers monitor this key economic factor.