Reflection questions and their respective Video links:

Price Elasticity of Demand

https://www.khanacademy.org/science/microeconomics/elasticity-tutorial/price-elasticity-tutorial/v/price-elasticity-of-demandLinks to an external site.

Who would want to know about the price elasticity of demand?

Income Elasticity of Demand

https://www.khanacademy.org/science/microeconomics/supply-demand-equilibrium/demand-curve-tutorial/v/changes-in-income--population--or-preferencesLinks to an external site.

How can we tell if a good is normal or inferior by calculating its Income Elasticity of Demand?

Cross Price Elasticity of Demand

https://www.khanacademy.org/science/microeconomics/elasticity-tutorial/price-elasticity-tutorial/v/cross-elasticity-of-demandLinks to an external site.

How can we tell if two goods are substitutes or complements by calculating their Cross Price Elasticity of Demand?

Price Elasticity of Supply

https://www.khanacademy.org/science/microeconomics/elasticity-tutorial/price-elasticity-tutorial/v/elasticity-of-supplyLinks to an external site.

Could the Price Elasticity of Supply for a particular good differ between the short-run and the long-run? Explain with an example.