Micro 2.4-Determinants of Elasticity Mashup

Little Storage Capacity

High Storage Capacity

Long Time Horizon for Producers

High Excess Productive Capacity

Few Firms

Little Excess Productive Capacity

Many Firms

Luxury

Narrowly Defined

Low Number of Available Substitutes

Long Time Horizon for Consumers

Large Number of Available Substitutes

Good is Low % of Income

Low Resource Mobility

High Resource Availability

Low Resource Availability

High Resource Mobility

Broadly Defined

Short Time Horizon for Consumers

Good is High % of Income

Short Time Horizon for Producers

Necessity