Library

5.1B Elasticity Review

By Mr. Yosup Joo
Last updated over 1 year ago
6 Questions
1.

In regular human everyday language, what is elasticity again?

2.

What kind of elasticity is shown here for supply?

3.

4.

In plain language, what does it mean when elasticity is greater than 1?


5.

When price changes a little bit...

6.

In these scenarios, when price changes...