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[经济学]微观经济学2
P Q 0 A B F G C :Ed =-(dQ/dP)? (P/Q)=1/(CG/GB)·(CG/OG) =(GB/CG)·(CG/OG) =GB/OG=BC/AC C C C The slope of a linear demand curve is constant, but the elasticity is not. ∞ 0 0 At points with a low price and a high quantity, demand is inelastic. At points with a high price and a low quantity, demand is elastic. TR is the amount paid by buyers and received by sellers of a good. Computed as the price of the good times the quantity sold. TR = P x Q With an inelastic demand curve, an increase in the price leads to a decrease in quantity that is proportionately smaller. Thus, total revenue increases. With an elastic demand curve, an increase in the price leads to a decrease in quantity that is proportionately larger. Thus, total revenue decreases. Demand Quantity Q P 0 Price TR= P × Q = $400 $4 100 Demand Quantity 0 Price Quantity 0 Price Demand TR = $100 $1 100 TR = $240 $3 80 An increase in price from $1 to $3 … … leads to an increase in total revenue from $100 to $240. Revenue = $100 Revenue = $200 Demand Quantity 0 Price Demand Quantity 0 Price An increase in price from $4 to $5 … … leads to an decrease in total revenue from $200 to $100. $4 50 TR = $200 $5 20 TR = $100 TR and the price elasticity of demand changes along the demand curve Income Elasticity of Demand A measure of how much the quantity demanded of a good responds to a change in consumers’ income. Normal goods have positive income elasticities, while inferior goods have negative income elasticities. Necessities tend to have small income elasticities, while luxuries tend to have large income elasticities. EI=(⊿Q/Q) / (⊿I/I) =(⊿Q/⊿I) ? (I/Q) income elasticity of demand= (percentage change in Qd)/ (percentage change in income) A measure of how much the quantity demanded of one good responds to a change in the price of another good. Substitutes have positive cross-price elasticities, while complements have negative cross-pri
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