Fig. 1.
Prototypical behavioral economic demand and expenditure curves. a provides the demand curve and the following associated facets of demand: intensity (i.e., consumption at minimal price), elasticity (i.e., slope of the demand curve), Pmax (i.e., maximum inelastic price), Breakpoint (i.e., price at which consumption is reduced to zero). b The associated expenditure curve and Omax (i.e., maximum expenditure), with the accompanying Pmax, which is also the price at which Omax takes place. Note logarithmic units for proportionality and to accommodate large intervals; zero values are replaced with trivial nonzero values (0.1)