Price point

[1] Introductory microeconomics depicts a demand curve as downward-sloping to the right and either linear or gently convex to the origin.

The downward slope generally holds, but the model of the curve is only piecewise true, as price surveys indicate that demand for a product is not a linear function of its price and not even a smooth function.

Demand curves resemble a series of waves rather than a straight line.

This decrease in quantity demanded more than offsets the additional revenue from the increased unit price.

Firms commonly set prices at existing price-points as a marketing strategy.