Title

(2) Price Elasticity of Demand II: Some Interesting Relations

Topic Category

Price Elasticity of Demand

Publication Date

2011

Keywords

Elasticity, Price Elasticity, Price Elasticity and Demand Curve Shape, Price Elasticity along a Demand Curve, Price Elasticity and Firm Revenues

Abstract

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.

Run Time

9:31

Primary Discipline

Microeconomics

Skills Delivered

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.

Rigor Level

2000

Prerequisites

Previous Demand, Supply, & Market, & Elasticity Videos



Share

COinS