Marshallian Demand

Marshallian Demand refers to the quantity of a good or service that a consumer is willing and able to purchase at various prices, holding their income and preferences constant. It illustrates how changes in price affect consumer demand, showing that typically, as prices decrease, the quantity demanded increases, and vice versa. This concept helps economists understand consumer behavior in response to price changes and is a fundamental part of demand analysis in microeconomics. It balances consumers' limited budgets with their desire for different products.