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Applying the Supply-and-Demand Model: Elasticity, Shocks, and Taxes

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The Demand Curve

Shifts in the Demand Curve

Movement Along a Demand Curve

The Supply Curve

Shifts in the Supply Curve

Movement Along a Supply Curve

Price Elasticity of Demand on a Graph

Percentage Change and Price Elasticity of Demand

Elasticity and the Midpoint Method

Income Elasticity of Demand

Cross-Price Elasticity of Demand

Price Elasticity of Supply

Price Elasticity of Supply on a Graph

Introducing Taxes and Tax Incidence

Effects of Taxes on a Market