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4 4 Demand and Elasticity. ●Elasticity: Measure of Responsiveness ●Price Elasticity of Demand: Its Effect on Total Revenue ●What Determines Demand Elasticity?
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5 5 Demand and Elasticity A high cross elasticity of demand [between two goods indicates that they] compete in the same market. [This can prevent a supplier.
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![5 5 Demand and Elasticity A high cross elasticity of demand [between two goods indicates that they] compete in the same market. [This can prevent a supplier.](https://static.fdocuments.in/doc/330x215/56649e1b5503460f94b09f56/5-5-demand-and-elasticity-a-high-cross-elasticity-of-demand-between-two-goods.jpg)
