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Gold/Mining/Energy : Gold Price Monitor

GDXJ 97.81

+0.9%

Nov 19 4:00 PM EST

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To: E. Charters who wrote (90225)	10/1/2002 6:14:00 PM
From: Don Lloyd	Read Replies (2) of 116762

EC, An alternate description, not necessarily in conflict. -- For a normal good, demand increases with falling price. The price elasticity of demand is the ratio of the percentage increase of demand divided by the percentage decrease of price, for incremental changes, IOW a measure of the slope of the demand/price curve. As such, a good is neither elastic nor inelastic, but both in turn when operating on different points of the curve. The point of unitary elasticity is also the point of maximum total revenue. Points on the curve where the elasticity is greater than one are called elastic and show increasing revenue in response to price decreases, etc. Regards, Don

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