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 ...

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 ...

Discover the key factors affecting demand elasticity, including type of good, price, income, and substitutes, and learn how these influence consumer behavior.

Elasticity is a method of measuring the likelihood of one economic factor affecting another, such as when the price of an item affects consumer demand or when supply affects how much something costs.