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Are Diamond Bracelets Elastic Or Inelastic Definition, formula, examples and diagrams to explain elasticity of demand/supply. Definition, formula, examples and diagrams to explain elasticity of demand/supply. Use those determinants and your own reasoning in judging whether demand. Suppose that the total revenue received by a company selling basketballs is $960 when the price is set at $30 per basketball and $960. This makes diamonds an inelastic good. If it was an inelastic good, according to the graph, the. What are the major determinants of price elasticity of demand? However, let's say the price of diamonds dropped significantly. Use those determinants and your own reasoning in judging whether demand for each of the following products is probably elastic or inelastic: Suppose that the total revenue received by a company selling basketballs is $720 when the price is set at $30 per basketball and $720.
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