More on Elasticity

More on Elasticity - Total Revenue(TR)=PxQ The larger the...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
Elasticity: Insulin is close to being perfectly inelastic, but not is completely perfectly inelastic Steeper the curve, the less elastic Flatter the curve, the more elastic Perfect Elastic=E=0 Perfectly Inelastic=E=0
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Total Revenue(TR)=PxQ The larger the number of substitutes, the larger the elasticity-The more time that has passed since a price change, the larger the elasticity....
View Full Document

This note was uploaded on 01/28/2012 for the course ECO 2023 taught by Professor Rush during the Spring '08 term at University of Florida.

Ask a homework question - tutors are online