曼昆英文版《经济学原理》05-弹性及其应用.ppt

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1、ElasticityandItsApplicationChapter5Elasticity...…isameasureofhowmuchbuyersandsellersrespondtochangesinmarketconditions…allowsustoanalyzesupplyanddemandwithgreaterprecision.PriceElasticityofDemandPriceelasticityofdemandisthepercentagechangeinquantitydemandedgivenapercentchangeinthepric

2、e.Itisameasureofhowmuchthequantitydemandedofagoodrespondstoachangeinthepriceofthatgood.DeterminantsofPriceElasticityofDemandNecessitiesversusLuxuriesAvailabilityofCloseSubstitutesDefinitionoftheMarketTimeHorizonDeterminantsofPriceElasticityofDemandDemandtendstobemoreelastic:ifthegoo

3、disaluxury.thelongerthetimeperiod.thelargerthenumberofclosesubstitutes.themorenarrowlydefinedthemarket.ComputingthePriceElasticityofDemandThepriceelasticityofdemandiscomputedasthepercentagechangeinthequantitydemandeddividedbythepercentagechangeinprice.ComputingthePriceElasticityofDema

4、ndExample:Ifthepriceofanicecreamconeincreasesfrom$2.00to$2.20andtheamountyoubuyfallsfrom10to8conesthenyourelasticityofdemandwouldbecalculatedas:ComputingthePriceElasticityofDemandUsingtheMidpointFormulaThemidpointformulaispreferablewhencalculatingthepriceelasticityofdemandbecauseitgiv

5、esthesameanswerregardlessofthedirectionofthechange.ComputingthePriceElasticityofDemandExample:Ifthepriceofanicecreamconeincreasesfrom$2.00to$2.20andtheamountyoubuyfallsfrom10to8conestheyourelasticityofdemand,usingthemidpointformula,wouldbecalculatedas:RangesofElasticityInelasticDemand

6、Quantitydemandeddoesnotrespondstronglytopricechanges.Priceelasticityofdemandislessthanone.ElasticDemandQuantitydemandedrespondsstronglytochangesinprice.Priceelasticityofdemandisgreaterthanone.ComputingthePriceElasticityofDemandDemandispriceelastic$54DemandQuantity1000Price50RangesofEl

7、asticityPerfectlyInelasticQuantitydemandeddoesnotrespondtopricechanges.PerfectlyElasticQuantitydemandedchangesinfinitelywithanychangeinprice.UnitElasticQuantitydemandedchangesbythesamepercentageastheprice.AVarietyofDemandCurvesBecausethepriceelasticityofdemandmeasureshowmuchquantityde

8、mande