微观经济学英文版弹性 elasticity.ppt

Computing Income Elasticity Income Elasticity Types of Goods Normal Goods Inferior Goods Higher income raises the quantity demanded for normal goods but lowers the quantity demanded for inferior goods. Income Elasticity Goods consumers regard as necessities tend to be income inelastic Examples include food, fuel, clothing, utilities, and medical services. Goods consumers regard as luxuries tend to be income elastic. Examples include sports cars, furs, and expensive foods. The Cross-Price Elasticity of Demand The cross-price elasticity of demand measures how the quantity demanded of one good responds to a change in the price of another good. =%?quantity demanded of good 1/ % ?price of good 2 性与爱是互补品 追求爱情的成本不断上涨，导致人们纷纷寻找爱情的替补 Prostitutes. One Night Stand. Porns. Cheating. 性与爱的交叉价格弹性为正。 THE ELASTICITY OF SUPPLY Price elasticity of supply is a measure of how much the quantity supplied of a good responds to a change in the price of that good. Price elasticity of supply is the percentage change in quantity supplied resulting from a percent change in price. Computing the Price Elasticity of Supply The price elasticity of supply is computed as the percentage change in the quantity supplied divided by the percentage change in price. Figure 6 The Price Elasticity of Supply Copyright?2003 Southwestern/Thomson Learning (a) Perfectly Inelastic Supply: Elasticity Equals 0 $5 4 Supply Quantity 100 0 1. An increase in price . . . 2. . . . leaves the quantity supplied unchanged. Price Figure 6 The Price Elasticity of Supply Copyright?2003 Southwestern/Thomson Learning (b) Inelastic Supply: Elasticity Is Less Than 1 110 $5 100 4 Quantity 0 1. A 22% increase in price . . . Price 2. . . . leads to a 10% increase in quantity supplied. Supply Figure 6 The Price Elasticity of Supply Copyright?2003 Southwestern/Thomson Learning (c) Unit Elastic Supply: Elasticity Equals 1 125 $5 100 4 Quantity 0 Price 2. . . . leads to a 22% increase in quantity supplied. 1. A 22% increas