微观经济学英文课件Ch_05.ppt

Elasticity and Its Application弹性及其应用 Chapter 5 Elasticity…（弹性） … is a measure of how much buyers and sellers respond to changes in market conditions 测度买者和卖者对市场变化反应的幅度 … allows us to analyze supply and demand with greater precision. 使得我们可以更精确地分析供给和需求 Price Elasticity of Demand需求的价格弹性 Price elasticity of demand is the percentage change in quantity demanded given a percent change in the price. 需求的价格弹性是指当价格变化1%时，需求量变化的百分比。 It is a measure of how much the quantity demanded of a good responds to a change in the price of that good. 它测度一个商品的需求量对价格变化的反应幅度。 Determinants of Price Elasticity of Demand Necessities versus Luxuries 必需品还是奢侈品 Availability of Close Substitutes 高度替代品的易得性 Definition of the Market 市场的界限 Time Horizon 时间的长短 Determinants of Price Elasticity of Demand Demand tends to be more elastic :需求趋向于更有弹性： if the good is a luxury. 如果商品是奢侈品 the longer the time period. 如果时间越长 the larger the number of close substitutes. 高度替代品的数目越多 the more narrowly defined the market. 市场的界限越窄 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: Computing the Price Elasticity of Demand Using the Midpoint Formula The midpoint formula is preferable when calculating the price elasticity of demand because it gives the same answer regardless of the direction of the change. Computing the Price Elasticity of Demand Using the Midpoint Formula 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 the your elasticity of demand, using the midpoint formula, would be calculated as: Ranges of Elasticity（弹性的范围） Inelastic Demand（缺乏弹性） Price elasticity of demand is less than one Elastic Demand（富有弹性） Price elasticity of demand is greater than one Perfect Inelastic（完全无弹性） Quantity demanded does not respond to price changes Perfect Elastic（完全弹性） Quantity demanded chan