Micro September 19, 2016
Price Elasticity of Demand – graphically, conceptually, and with calculations using the quick-and-easy ‘midpoint’ method. Changing elasticity along a straight line demand curve. Price elasticity and total revenue. Calculations when the price elasticity is known. Factors which influence the relative price elasticity of demand. Pricing decisions; why you should never operate in the inelastic range of the demand curve.