This preview has intentionally blurred sections. Sign up to view the full version.View Full Document
Unformatted text preview: o shortage Chapter 5 Elasticity of Demand 18/06/2007 13:01:00 not sensitive to price • inelastic in demand o no substitutes cigarettes price of gasoline tires are sensitive to price • elastic demand • hamburgers • 18/06/2007 13:01:00...
View Full Document
This note was uploaded on 04/01/2008 for the course ECON 2100 taught by Professor Goodwin during the Summer '07 term at Kennesaw.
- Summer '07