Add Yahoo as a preferred source to see more of our stories on Google. Economists use elasticity of demand to gauge how responsive consumers are to changes in price and income, but investors can also ...

the notable demand alteration that occurs when an economic factor - such as the price of the good or service - changes. Elastic demand, as mentioned above, is the considerable change in the ...

A small business can use elasticity to determine which products it can raise prices on and which prices should have lower prices. If a product has elastic demand, it means your customers buy it even ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. David Kindness is a Certified Public ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...

The cross elasticity of demand tells you how your customers will react to a change in your product's price. It is a way to mathematically measure the amount you can increase an item's price before ...