05elasticity.pptVIP

5 Elasticity and Its Applications 弹性及其应用 Elasticity . . . … allows us to analyze supply and demand with greater precision. 弹性可以使我们对供给和需求的分析更精细 … is a measure of how much buyers and sellers respond to changes in market conditions 弹性度量卖者和卖者对市场环境变化的反应灵敏度。 THE ELASTICITY OF DEMAND Price elasticity of demand is a measure of how much the quantity demanded of a good responds to a change in the price of that good. 需求的价格弹性是度量需求量对价格变化的灵敏度 Price elasticity of demand is the percentage change in quantity demanded given a percent change in the price. 价格弹性是由一个百分点的价格变化导致的需求变化的比例（百分比）。 The Price Elasticity of Demand and Its Determinants决定因素 Availability of Close Substitutes替代品的数量 Necessities versus Luxuries必需品V,奢侈品 Definition of the Market市场的定义 Time Horizon时间维度 The Price Elasticity of Demand and Its Determinants Demand tends to be more elastic :需求变得更有弹性，当 the larger the number of close substitutes.替代品数量增多 if the good is a luxury.奢侈品 the more narrowly defined the market.更窄的市场定义 the longer the time period.更长的时间 Computing the Price Elasticity of Demand The price elasticity of demand is computed as the percentage change in the quantity demanded divided by the percentage change in price. 需求价格弹性计算公式是需求量变动的百分比除以价格变得的百分比 Computing the Price Elasticity of Demand Example: If the price of an ice cream cone increases from $2.00 to $2.20 and the amount you buy falls from 10 to 8 cones, then your elasticity of demand would be calculated as: The Midpoint Method: A Better Way to Calculate Percentage Changes and Elasticities The midpoint中间点 formula 公式is preferable when calculating the price elasticity of demand because it gives the same answer regardless of the direction of the change. The Midpoint Method: A Better Way to Calculate Percentage Changes and Elasticities Example: If the price of an ice cream cone increases from $2.00 to $2.20 and the amount you buy falls from 10 to 8 cones, then your elasticity of demand, using the midpoint formula, would be calculated as: The Variety of Demand