Conventional price elasticity of demand is a simplistic and elementary formula that has mathematical and economic deficiencies when applied to price (rates) and demand (balances) of deposit products: It does not recognize inverse relations between price and demand.
At its peak in 1300, the Mali Empire covered an area about twice the size of modern-day France and stretched to the west coast of Africa. In the late 19th century, during the Scramble for Africa, France seized control of Mali, making it a part of French Sudan.
2 â¢ LOCATION. Located in the interior of west Africa, the Republic of Mali shares borders with seven countries. Its territory extends over 465,000 square miles (1.2 million square kilometers). A large part of Mali is covered by the Sahara Desert and receives less than 12 inches (30 centimeters) of rain a year. As a result, most of the population is concentrated in the southern half of the country. The Niger, one of the major African rivers, crosses Mali, forming a vast interior delta.