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.
Chapter 4 Elasticity and Taxation ©2010 Worth Publishers Slides created by Dr. Amy Scott.
Chapter 4 Demand- the desire to own something. Law of Demand - consumers buy more of a good when its price decreases and less when its price increases.
SUMMARY chapter: 6 >> Krugman/Wells Economics ©2009 Worth Publishers Elasticity.
Elasticity Chapter 6 THIRD EDITIONECONOMICS and MICROECONOMICS MICROECONOMICS Paul Krugman | Robin Wells.