Tag: elasticity of demand

Elon Musk’s Basic Economics

Elon Musk’s Basic Economics

This video was made possible by Hover. Buy your domain before its gone for 10% off by going to hover.com/Wendover. Imagine a $2,000 car… or a $100 laptop… or a $70 iPhone… or imagine any product ten times cheaper than it was. Imagine the fundamental market change that would bring. Imagine the amount of demand …

Elasticity of Demand- Micro Topic 2.3

Elasticity of Demand- Micro Topic  2.3

Hey, you already know the law demands says there’s an inverse relationship between price and quantity So the price goes up for a product people buy less the price goes down people buy more but the question now is how much less or how much more they buy and that’s the idea of elasticity Elasticity …