1. Copyright © 2004 South-Western 5 Elasticity and Its Application

2. Copyright © 2004 South-Western Figure 1a The Price Elasticity of Demand

3. Copyright © 2004 South-Western Figure 1b The Price Elasticity of Demand

4. Copyright © 2004 South-Western Figure 1c The Price Elasticity of Demand

5. Copyright © 2004 South-Western Figure 1d The Price Elasticity of Demand

6. Copyright © 2004 South-Western Figure 1e The Price Elasticity of Demand

7. Copyright © 2004 South-Western Figure 2 Total Revenue

8. Copyright © 2004 South-Western Figure 3 How Total Revenue Changes When Price Changes: Inelastic Demand

9. Copyright © 2004 South-Western Figure 4 How Total Revenue Changes when Price Changes: Elastic Demand

10. Copyright © 2004 South-Western Figure 5 Elasticity of a Linear Demand Curve

11. Copyright © 2004 South-Western Figure 5 Elasticity of a Linear Demand Curve

12. Copyright © 2004 South-Western Figure 6a The Price Elasticity of Supply

13. Copyright © 2004 South-Western Figure 6b The Price Elasticity of Supply

14. Copyright © 2004 South-Western Figure 6c The Price Elasticity of Supply

15. Copyright © 2004 South-Western Figure 6d The Price Elasticity of Supply

16. Copyright © 2004 South-Western Figure 6e The Price Elasticity of Supply

17. Copyright © 2004 South-Western Figure 7 How the Price Elasticity of Supply Can Vary

18. Copyright © 2004 South-Western Figure 8 An Increase in Supply in the Market for Wheat

19. Copyright © 2004 South-Western Figure 9a A Reduction in Supply in the World Market for Oil

20. Copyright © 2004 South-Western Figure 9b A Reduction in Supply in the World Market for Oil

21. Copyright © 2004 South-Western Figure 10a Policies to Reduce the Use of Illegal Drugs

22. Copyright © 2004 South-Western Figure 10b Policies to Reduce the Use of Illegal Drugs