Like Elastic...it will expand but you never know when in will break..

¢ELASTICITY OF DEMAND
if demand is inelastic it means it won’t change even if you raise the price!!

¢Start at p. 90
Look at each chart, read the caption, answer the question. Figure 4.1, 4.2, 4.3, Read p. 100, answer 1-2
Complete for HW
Explain key terms: elasticity of demand