The tool of politics (which frequently becomes its objective) is to extract resources from the general taxpayer with minimum offense. -- James R. Schlesinger, Economist and Former Sec. Defense & Energy in Journal of Law and Economics, Oct.1968

Elasticity

Price Elasticity of Demand

Slide 4

Slide 5

Slide 6

Demand Curves with Constant Price Elasticity

Price Elasticity of Demand: What do you think?

Price Elasticity of Demand: Survey Sez….

Total Revenue = P x Q

Elasticity and Total Revenue

Price & Sales Effects Work Opposite Each Other

Elasticity and Total Revenue

Elasticity, Total Revenue, Taxes

PowerPoint Presentation

Price Elasticity of Supply

Income Elasticity of Demand

Income Elasticities of Demand

Cross-Price Elasticity of Demand