check your concept which measure of elasticity of demand results in shift of entire demand curve rather movement along the demand curve?
Are we doing weekly quizzes now? LOL One measure that comes to mind is the cross elasticity of demand. Recall that a change in the price of complements or substitutes will impact the entire demand schedule of a product. This is also taught in Econ 101. So if the price of waffles goes up, the demand for pancakes go up (substitutes), and if the price of syrup goes up, then the demand for pancakes goes down (complements). Contrast with traditional elasticity measure, that measures sensitivity along a demand schedule/curve solely on the basis of price–alternatively, we’re measuring quantity demanded. You also have income elasticity, which measures the sensitivity of the demand of a product based on income. That, too, can be inferred as having an impact on the demand schedule. If everybody’s income went up, the demand for outside dining would go up (normal good/service), whereas if everybody’s income went down, the demand for Ramen Noodles would increase (inferior good, at least for some ). Good question.