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:
“Rearing three children is like growing a cactus, a gardenia, and a tubful of impatiens. Each needs varying amounts of water, sunlight and pruning. Were I to be absolutely fair, I would have to treat each child as if he or she were absolutely identical to the other siblings, and there would be no profit for anyone in that.”
—Phyllis Theroux, U.S. journalist. “On Being Fair,” Night Lights: Bedtime Stories for Parents in the Dark, Penguin (1987)