Price elasticity: Presentation - Lift 5
This presentation can be used to support the learning material
about elasticity.
First, the learning material about supply and demand is repeated,
and then the concepts of price elasticity, income elasticity and
cross-elasticity are defined and illustrated using examples. The
following concepts are also discussed:
- inferior goods;
- necessary goods;
- luxury goods;
- complementary goods;
- substitute goods.
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