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.
Mali takes eighth place in terms of largest countries in Africa, with an area of 1,240,192 square kilometers. Mali is located in West Africa, and its capital is in Bamako. The population of Mali is about 13.5 million.he fourth largest country in Africa is Libya, with an area of 1,759,540. Libya is situated in the far north of Africa along the Mediterranean Sea, and its capital is Tripoli. The population of Libya is just over 6 million people.