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

Price elasticity measures how demand changes with price adjustments; key for investment decisions. Investors should focus on companies developing inelastic products for greater pricing power.

Discover how a total revenue test measures price elasticity to refine pricing strategies and boost business revenue. Learn to differentiate between elastic and inelastic demand.