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 the key factors affecting demand elasticity, including type of good, price, income, and substitutes, and learn how these influence consumer behavior.