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  • Elasticity | Microeconomics | Economics | Khan Academy
    Why are resold concert tickets so expensive? Why is holiday candy so cheap in January? Learn how supply and demand changes can influences how much things cost, and why the prices of some items can change so dramatically
  • Price elasticity of demand and price elasticity of supply
    Elasticities can be usefully divided into five broad categories: perfectly elastic, elastic, perfectly inelastic, inelastic, and unitary An elastic demand or elastic supply is one in which the elasticity is greater than one, indicating a high responsiveness to changes in price
  • Elasticity in the long run and short run - Khan Academy
    Long-run vs short-run impact Elasticities are often lower in the short run than in the long run Changes that just aren't possible to make in a short amount of time are realistic over a longer time frame On the demand side, that can mean consumers eventually make lifestyle choices—like buying a more fuel efficient car to reduce their gas usage
  • Elasticity and tax revenue (article) | Khan Academy
    The tax incidence depends on the relative price elasticity of supply and demand When supply is more elastic than demand, buyers bear most of the tax burden When demand is more elastic than supply, producers bear most of the cost of the tax
  • Introduction to price elasticity of demand - Khan Academy
    Learn about the price elasticity of demand, a concept measuring how sensitive quantity is to price changes Elasticity is calculated as percent change in quantity divided by percent change in price Elastic situations have elasticity greater than 1, while inelastic situations have elasticity less than 1 Elasticity varies along a demand curve, and different calculation methods exist
  • Cross Price Elasticity and Income Elasticity of Demand - Khan Academy
    In a previous lesson we learned about price elasticity of demand, but there are many other types of elasticity that measure how agents respond to variables other than the change in a good's price Two of these are Cross Price Elasticity of Demand and Income Elasticity of Demand The sign of each of these conveys important information about the good
  • More on elasticity of demand (video) | Khan Academy
    How can you compare different elasticities of demand? For example, how could you compare the elasticity of demand for burgers (2 increase for -$1) and flowers (let's say 3 increase for -$1)?
  • Elasticity in areas other than price (article) | Khan Academy
    Sometimes, either to be extremely clear or because a wide variety of elasticities are being discussed, the elasticity of demand or the demand elasticity will be called the price elasticity of demand or the “elasticity of demand with respect to price”
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