Elasticity

Yesterday I saw that a ping pong ball bounced nicely on a hard surface but poorly on a mattress.On the contrary ,I saw that other things (a pen for example) bounced poorly on a hard surface but... more

First question here. I am not an economist by training, but I do quite a bit of econometric analysis in my job (my background is maths). I often get asked about elasticity, and I am familiar with... more

This is a point I find very confusing and very hard to justify to students. Depending on the books, one finds many different conventions regarding the sign of elasticities and marginal rate of... more

What exactly are Giffen goods and are they of purely theoretical interest or has there been empirical evidence of their existence?

Source: p 96, *Principles of Microeconomics*, 7 Ed, 2014, by N Gregory Mankiw>Even though the slope of a linear demand curve is constant, the elasticity is not.This is true because the slope is... more

The Case:Airline industry is a large and growing industry. It accelerates economic growth, worldtrade, international investment and tourism and is therefore, central to the globalization.The... more