(2) Price Elasticity of Demand II: Some Interesting Relations
Price Elasticity of Demand
Elasticity, Price Elasticity, Price Elasticity and Demand Curve Shape, Price Elasticity along a Demand Curve, Price Elasticity and Firm Revenues
This extends the discussion of Price Elasticity of Demand. It explains how price elasticity is related to demand curves, both their general shapes and at different locations along a linear demand curve. The connection between price elasticity, price changes, and firm total revenues is explained.
Crane, Steven E., "(2) Price Elasticity of Demand II: Some Interesting Relations" (2011). Principles of Microeconomics. Paper 62.
Ability to explain how price elasticity relates to the shape of a demand curve and how elasticity changes along a demand curve. Understanding of how price elasticity relates to firm total revenues.
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