Interpreting Price Elasticity of Demand
Hi Everyone, in this video I’m discuss interpreting price elasticity of demand. The video is in basically two parts, I’ll start by talking about interpretation of the numerical value interpreting whole curves as relatively inelastic / elastic. The chapters are below: 0:00 Introduction 0:22 What PED is / Why it's negative 1:47 Elastic Demand 4:54 Unit Elastic 5:41 Inelastic Demand 6:50 Perfectly Inelastic and Perfectly Elastic 7:50 Elasticity of the whole curve relative to another Here's the link to why elasticity changes along demand curves with any slope: • Why Elasticity Changes Along Demand Curves Keep safe everyone!
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