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assumption average basic Biblical business firm buyers ceteris paribus change in quantity changes in price choice Christian civil authorities civil government consumers corporation cost curve demand curve economic rent economists elasticity entrepreneur entrepreneurial profit example existing factor factors of production firm's Frederic Bastiat free market impute value income increase individual industry input labor power land rent level of output man's marginal marginal revenue market structure market system marketplace maximize means monopolist moral nature nomic normative normative economics payment percent Perfect information person political positive price discrimination problem purchase pure competition pure monopoly quantity demanded question relationship revenue scarcity scientific scientific method scientists secular sell sellers social society study of economics sumer supply curve things tion tive transfer earnings U.S. Steel unit voluntary exchange wage wants wealth