Chapter Five:

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Chapter Five
Elasticity
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The Price Elasticity of Demand
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Table 5.1 Relationship Between Price and
Quantity Demanded for Braeburns Poetry Book
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Figure 5.1 Demand Curve for Braeburns Poetry
Book
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Figure 5.2 Perfectly Inelastic Demand and
Perfectly Elastic Demand
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Figure 5.3 Elasticity Varies Along a
Straight-Line Demand Curve
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Figure 5.4 Changing the Scale of Braeburns
Demand Curve
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Figure 5.5 Braeburns Book Revenues
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Table 5.2 Effects of Price Changes on Revenues
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Table 5.3 Some Estimated Price Elasticities of
Demand
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The Price Elasticity of Supply
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Figure 5.6 Price Elasticity of Supply
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Income Elasticity of Demand
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Figure 5.7 Income Elasticity of Demand