| After reading this chapter, you should know | |
| LO20-1 | How to compute price elasticity of demand. |
| LO20-2 | The relationships between price changes, price elasticity, and total revenue. |
| LO20-3 | What the cross-price elasticity of demand measures. |
| LO20-4 | What the income elasticity of demand tells us. |
| LO20-5 | What the elasticity of supply measures. |