Stretch and Snap: Alfred Marshall’s 1890 Elasticity of Demand, the Palermo Rooftop, Marlboro Friday, Mexico’s Peso-a-Litre Tax, and Why the Long-Term Equity Investor Must Know How Far a Price Can Move Before Volume Answers

Editorial cover: two demand lines through one point, a steep inelastic line and a flat elastic line, showing the same ten per cent price rise producing a two per cent and a twelve per cent fall in units

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