Learn how utility functions derive demand functions and their role in maximizing consumer satisfaction and economic decision making.

We discuss a class of chain graph models for categorical variables defined by what we call a multivariate regression chain graph Markov property. First, the set of local independencies of these models ...

A linear demand curve is a line representing the relationship between the demand for a product or service and its price. Everyone knows that sales are proportional to price: The more you charge for an ...