  To simulate the effects of demand elasticity, the quantity of electricity demanded in each segment can be set as a function of electricity prices using an elasticity value that is entered as an input to the model.
The effects of demand elasticity can be simulated with a model and can be a valuable teaching tool. 
mnli hypothesis: The effects of demand elasticity can be simulated with a model and can be a valuable teaching tool.  premise:   To simulate the effects of demand elasticity, the quantity of electricity demanded in each segment can be set as a function of electricity prices using an elasticity value that is entered as an input to the model.