Price elasticity

9 videos
You're familiar with supply and demand curves already. In this tutorial we'll explore what implications their steepness (or lack of) implies. Price elasticity is a measure of how sensitive something is to price.

Price elasticity of demand

VIDEO 13:17 minutes
Introduction to price elasticity of demand

More on elasticity of demand

VIDEO 6:01 minutes
Looking a bit deeper at why elasticity changes despite having a linear demand curve

Perfect inelasticity and perfect elasticity of demand

VIDEO 9:41 minutes
Extreme examples of price elasticity of demand

Constant unit elasticity

VIDEO 4:37 minutes
What a demand curve with constant unit elasticity would look like

Total revenue and elasticity

VIDEO 11:41 minutes
Thinking about how total revenue and elasticity are related

More on total revenue and elasticity

VIDEO 8:25 minutes
Clarification on the relationship between total revenue and elasticity

Cross elasticity of demand

VIDEO 11:20 minutes
Price of one good impacting quantity demanded of another

Elasticity of supply

VIDEO 9:33 minutes
Thinking about elasticity of supply

Elasticity and strange percent changes

VIDEO 6:54 minutes
Why we calculate percent changes in a strange way when calculating elasticities