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Economics Lecture Three (view source)
Revision as of 21:43, September 15, 2009
, 21:43, September 15, 2009→For Honors Students Only: Minor Point about Calculating Elasticities: trimmed heading
In this example, however, consider price increases on the same route that are due only to increases in fuel costs. Will those price increases have the same elasticity? (No, because the alternative of traveling by car increases in cost by a similar amount. But demand will decrease anyway, because some people will simply stay at home rather than travel.)
In this example, however, consider price increases on the same route that are due only to increases in fuel costs. Will those price increases have the same elasticity? (No, because the alternative of traveling by car increases in cost by a similar amount. But demand will decrease anyway, because some people will simply stay at home rather than travel.)
==For Honors Students Only: Minor Point about Calculating Elasticities==
==For Honors Students Only, Concerning Calculating Elasticities==
Warning: for honors students only!
Warning: for honors students only!