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.
Mansa Musa. When Mansa (king of kings) Musa came to power (1312 AD), Mali already had firm control of the trade routes to the southern lands of gold and the northern lands of salt. Now Musa brought the lands of the Middle Niger under Mali's rule. He enclosed the cities of Timbuktu and Gao within his empire.