Price elasticity of demand
Why one chai stall can't raise its price, and a pharmacy can.
IB Diploma Programme
Lessons follow your syllabus order. Open any one directly before a test; none is locked, and each takes about four minutes.
IB Economics guide — Unit 2: Microeconomics · references are drafts awaiting teacher review
2.1 Demand
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2.2 Supply
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2.3 Competitive market equilibrium
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2.5 · SL/HLPrice elasticity of demand (PED)
Elasticity and revenue
Charging more per cup can leave you with less money.
Elasticity along a straight line
Same slope, different elasticity. Where does revenue peak?
2.5 · SL/HLIncome elasticity of demand (YED)
Income elasticity of demand
Everyone gets richer. Why do fewer people take the bus?
2.6 · SL/HLElasticity of supply (PES)
Price elasticity of supply
Mango prices jump 50%. Why don't more mangoes turn up?
2.7 Role of government in microeconomics
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