Discreteness of Amounts
If a commodity is sold in whole units, and these are substantial for a consumer, then the individual demand curve can hardly be approximated by a continuous curve. It is a set function of the price, defined by a price above which no unit is bought, a price range for which one is bought, etc.
Read more about this topic: Demand Curve
Famous quotes containing the word amounts:
“To assert in any case that a man must be absolutely cut off from society because he is absolutely evil amounts to saying that society is absolutely good, and no-one in his right mind will believe this today.”
—Albert Camus (1913–1960)
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