Elasticity

Topic Page

Questions

• What are some examples of products with inelastic demand?
• How does elasticity change in the long run?
• How does elasticity change as prices increase?
• How does elasticity affect price?
• What is an example demand elasticity?
• Why is elasticity unitless?
• Why is elasticity unitless?
• What is price elasticity of supply?
• What is price elasticity of demand?
• What does elasticity refer to in economics?
• What types of goods have price elasticities of demand greater than -1?
• How is cross elasticity of demand used?
• What does it mean if price elasticity of supply equals 0?
• What does price elasticity of demand indicate?
• Can price elasticity of demand be negative?
• How do you calculate income elasticity of demand?
• Can price elasticity of demand change over time?
• What does price elasticity of demand measure?
• What does elasticity mean?
• Why can the supply of oil sometimes be inelastic?
• What goods have inelastic demand?
• If the demand for a good is inelastic, what can you infer about any substitute goods?
• What is the mathematical formula for price elasticity of supply?
• How does elasticity affect the profit maximizing price point?