This preview shows page 1. Sign up to view the full content.
Unformatted text preview: inal point 9.50 D 0
. 39 41 Q Price Elasticity of Demand elastic a % change in a product's price causes a greater % change in the quantity demanded unit-elastic a % change in a product's price causes an equal % change in the quantity demanded inelastic a % change in a product's price causes a smaller % change in the quantity demanded Perfectly Inelastic
P D1 =0 0 Q Perfectly Elastic
P = D3 0 Q Elasticity Along a Straight-Line Demand Curve
Price (dollars per pizza) 25.00 20.00 15.00 12.50 10.00 5.00 0 10 20...
View Full Document
This document was uploaded on 03/14/2014.
- Fall '14