Jacob Clifford
Elasticity of Demand Coefficients (Cross-Price and Income Elasticity)
What is the difference between elastic and inelastic demands? Review these concepts, as well as cross prices, elasticity of supply, and income elasticity, with your class members after taking a look at this video.
Jacob Clifford
Socially Optimal and Fair Return for Monopolies
How do you regulate a monopoly, and how would this be depicted on a graph? Watch a savvy economics instructor answer this question by offering detailed explanations and drawing a graph in real time.