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ID:52607816
大小:1.34 MB
页数:51页
时间:2020-04-11
《微观经济学原理曼昆英文第五章.ppt》由会员上传分享,免费在线阅读,更多相关内容在教育资源-天天文库。
1、ElasticityanditsApplicationEconomicsPRINCIPLESOFN.GregoryMankiw5Inthischapter,lookfortheanswerstothesequestions:Whatiselasticity?Whatkindsofissuescanelasticityhelpusunderstand?Whatisthepriceelasticityofdemand?Howisitrelatedtothedemandcurve?Howisitrelatedtorevenue&expenditure?Whatisth
2、epriceelasticityofsupply?Howisitrelatedtothesupplycurve?Whataretheincomeandcross-priceelasticitiesofdemand?1Youdesignwebsitesforlocalbusinesses.Youcharge$200perwebsite,andcurrentlysell12websitespermonth.Yourcostsarerising(includingtheopportunitycostofyourtime),soyouconsiderraisingt
3、hepriceto$250.Thelawofdemandsaysthatyouwon’tsellasmanywebsitesifyouraiseyourprice.Howmanyfewerwebsites?Howmuchwillyourrevenuefall,ormightitincrease?Ascenario…02ELASTICITYANDITSAPPLICATION3ElasticityBasicidea:Elasticitymeasureshowmuchonevariablerespondstochangesinanothervariable.Onetyp
4、eofelasticitymeasureshowmuchdemandforyourwebsiteswillfallifyouraiseyourprice.Definition:ElasticityisanumericalmeasureoftheresponsivenessofQdorQstooneofitsdeterminants.0ELASTICITYANDITSAPPLICATION4PriceElasticityofDemandPriceelasticityofdemandmeasureshowmuchQdrespondstoachangeinP.Priceel
5、asticityofdemand=PercentagechangeinQdPercentagechangeinPLooselyspeaking,itmeasurestheprice-sensitivityofbuyers’demand.0ELASTICITYANDITSAPPLICATION5PriceElasticityofDemandPriceelasticityofdemandequals0PQDQ2P2P1Q1Prisesby10%Qfallsby15%15%10%=1.5Priceelasticityofdemand=PercentagechangeinQ
6、dPercentagechangeinPExample:ELASTICITYANDITSAPPLICATION6PriceElasticityofDemandAlongaDcurve,PandQmoveinoppositedirections,whichwouldmakepriceelasticitynegative.Wewilldroptheminussignandreportallpriceelasticitiesaspositivenumbers.0PQDQ2P2P1Q1Priceelasticityofdemand=PercentagechangeinQdP
7、ercentagechangeinPELASTICITYANDITSAPPLICATION7CalculatingPercentageChanges0PQD$2508B$20012ADemandforyourwebsitesStandardmethodofcomputingthepercentage(%)change:endvalue–startvaluestartvaluex100%GoingfromAtoB,the%changeinPequals($250–$200)/$200=25%ELASTICITYANDITSAPPLICATION8C
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