Chapter 4

Demand: Elasticity and Applications

In this chapter we develop some concepts for the different characteristics of the demand curves for different goods and services. These concepts will prove especially useful in practical applications

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Overheads for this chapter

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You Need to Know

To understand this chapter, you will need some concepts from

Contents

  1. Introduction
  2. Elasticity of Demand
  3. Elasticity and Slope
  4. Determinants of Elasticity
  5. Elasticity and Revenue
  6. Example Applications
  7. Income Elasticity
  8. Cross-Elasticity
  9. Elasticity of Supply
  10. Chapter Summary

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