Elasticity
Learn about the economic concept of elasticity, including key concepts and polar cases, how to calculate price elasticity of demand and supply, the impact of price changes on revenue and costs, and elasticity in areas beyond price, such as income and cross-price elasticity.
Introduction to Elasticity
Price Elasticity of Demand and Price Elasticity of Supply
Calculating Price Elasticity of Demand
Calculating the Price Elasticity of Supply
Key Concepts and Summary
Polar Cases of Elasticity and Constant Elasticity
Key Concepts and Summary
Elasticity and Pricing
Does Raising Price Bring in More Revenue?
Can Costs Be Passed On to Consumers?
Elasticity and Tax Incidence
Long-Run vs. Short-Run Impact
Key Concepts and Summary
Elasticity in Areas Other Than Price
Income Elasticity of Demand
Cross-Price Elasticity of Demand
Elasticity in Labor and Financial Capital Markets
Expanding the Concept of Elasticity
Key Concepts and Summary