Principles of Microeconomics - Chapter 5: Elasticity - Part 2
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Perfectly inelastic demand 0:00
Perfectly elastic demand 2:29
Elasticity tells you about the steepness of the demand curve 4:08
Why don't we just use the slope? 7:38
The relationship between total revenue and the elasticity of demand 9:47
Elasticity changes along a linear demand curve 21:23
Cross price elasticity of demand 24:49
Income elasticity of demand 30:57
Price elasticity of supply 34:00
Perfectly elastic and perfectly inelastic supply 36:41
Interpretation of price elasticity of supply 38:09
Tying it all together 40:17
Summary of the elasticities 47:44
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