1. What is the definition of elasticity? 2. What is the meaning and importance of: price elasticity of demand? income elasticity of demand? price elasticity.
The responsiveness of one variable to changes in another When price rises, what happens to demand? Demand falls BUT! How much does demand fall?
Demand Elasticity
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SUMMARY chapter: 6 >> Krugman/Wells Economics ©2009 Worth Publishers Elasticity.
Eco Project
CHAPTER 5 Elasticity
CHAPTER 5 Elasticity. 2 What you will learn in this chapter: What is the definition of elasticity? What is the meaning and importance of price elasticity.
Elasticity Chapter 6 THIRD EDITIONECONOMICS and MICROECONOMICS MICROECONOMICS Paul Krugman | Robin Wells.
