Editing Demand curve (section)

=== Curvature ===
[[File:Monopoly Demand Curve.png|thumb|Convex demand curve]]
The demand is called ''[[Convex function|convex]]'' (with respect to the [[Origin (mathematics)|origin]]{{sfn|RBB Economics|2014|p=16}}) if the (generally down-sloping) curve bends upwards, ''[[Concave function|concave]]'' otherwise.{{sfn | Malueg | 1994 | p=237}} 

The demand curvature is fundamentally hard to estimate from the empirical data, with some researchers suggesting that demand with high convexity is practically improbable. Demand curve are, however, considered to be generally convex in accordance with [[Marginal utility|diminishing marginal utility]].{{sfn|RBB Economics|2014|p=36}} Theoretically, the Demand curve is equivalent to the [[Price-consumption curve|Price-offer curve]] and can be derived by charting the points of tangency between [[Budget constraint|Budget Lines]] and [[indifference curve|indifference curves]] for all possible prices of the good in question.<ref>Varian, Hal (2014). Intermediate Microeconomics : a Modern Approach (8th ed.). New York: Norton & Company. p.</ref>