Slide 1 Slide 2 Elasticity of Demand & Supply 20 C H A P T E R Slide 3 From Ch. 3 make sure you know the following: Define demand and supply and state the laws of demand…
Slide 1 1 Chapter 4 Application on Demand and Supply Slide 2 2 Elasticity Elasticity is a general concept that can be used to quantify the response in one variable when another…