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Pastimes : Austrian Economics, a lens on everyday reality
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To: Don Lloyd who wrote (266)11/15/2003 11:34:28 PM
From: Wildstar  Read Replies (1) of 445
 
Don,

From the supplier's viewpoint, every alternative price he may set will result in a specific total number of units sold and a specific amount of total revenue. The set of price, quantity and revenue data points can be graphed two at a time. When only price and revenue are graphed, we have a Laffer curve, with zero revenue for both zero price and any price high enough to preclude any unit demand at all, and some maximum revenue occurring at some intermediate price. Any change in consumer conditions of demand may produce an entirely new Laffer curve.

Is the Laffer curve entirely consumer dependent?
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