The cross elasticity of demand tells you how your customers will react to a change in your product's price. It is a way to mathematically measure the amount you can increase an item's price before ...

According to the law of demand, when the price of a product goes up, consumers will buy less of it and vice versa. The concept of elasticity measures how much less consumers will buy when the price ...

Economists use elasticity of demand to gauge how responsive consumers are to changes in price and income, but investors can also use elasticity of demand to help make more informed investing decisions ...

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...