In the section on Demand we learned how equilibrium price and quantity change when demand or supply or both shift. We can fine tune our understanding of such market adjustments by incorporating our understanding of elasticities.

   Recall, we were clear that slope and elasticity are different. At the same time, we indicated that curves with different slopes are useful in illustrating different elasticities.

   Even though straight line curves don't exhibit constant elasticity, flatter curves can be used to illustrate more elastic demand, and steeper curves can be used to illustrate more inelastic demand.

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