Elasticity shows the responsiveness of supply or demand to changes in price. What are the factors exerting influence on price elasticities of supply and demand?
In the economic recession, rising health insurance premiums are financially hurting the families.
Why is health insurance becoming too expensive for many families? Do you have an Inelastic Demand for your current health insurance plan? Why? Why Not? Are you in favor of the President Obama's public health care plan? Why? Why Not? Are you having an Elastic Demand for a dental insurance? Why? Why Not? Look at this also from the supplier's point of view. Why do some dentists charge less for teeth whitening? If a dentist faces an Elastic Demand, should he raise or reduce the treatment fee to boost his revenue?