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A NOTE ON CONSUMER DEMAND CURVES AND PRICE ELASTICITY OF DEMAND
Author(s) -
Harris C. P.
Publication year - 1962
Publication title -
economic record
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.365
H-Index - 42
eISSN - 1475-4932
pISSN - 0013-0249
DOI - 10.1111/j.1475-4932.1962.tb01450.x
Subject(s) - economics , price elasticity of demand , elasticity (physics) , consumer demand , microeconomics , derived demand , demand curve , on demand , agricultural economics , commerce , thermodynamics , physics
“The elasticity of demand is great for high prices, and great, or at least considerable, for medium prices, and gradually fades away if the fall goes so far that satiety level is reached.”—Principles of Economics, 8th ed., p. 87