Slide 1 Elasticity 5 Slide 2 Big Questions 1.What is the price elasticity of demand, and what are its determinants? 2.How do changes in income and the prices of other goods…
Slide 1 Chapter Elasticity and Its Application 5 Slide 2 Types of Elasticities Generally 3 categories we are concerned about – Price elasticity Own-price: – How quantity…