The Econ Sandbox

Elasticity of Demand

Understand the concept of elasticity and its applications in economic analysis.

Elasticity Shifters

Select Price 17

Slide right to increase price. Slide left to decrease price.

Slope of Demand Curve1

Slide right to increase slope. Slide left to decrease slope.

Quantity (Q)Price (P)DQ1 = 13.00P1 = $7.00Q2 = 11.00P2 = $9.00Ed = -0.67

Price Decrease: The price of apples decreased to $7.00. People like spending less money, so the quantity of apples demanded rises to 13.00.