第5章弹性及其应用衡量需求量或供应量响应能力改变决定.pdfVIP

Elasticity and Its Application © 2011 Cengage Learning. s . May not be copied, scanned, or duplicated, in whole or in part, except for use as 1 permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. The Elasticity of Demand • Elasticity – Measure of the responsiveness of ty demanded or ty d – To a change in one of its determinants • Price elasticity of demand – How much the ty demanded of a good – Responds to a change in the price of that good © 2011 Cengage Learning. s . May not be copied, scanned, or duplicated, in whole or in part, except for use as 2 permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. The Elasticity of Demand • Price elasticity of demand – Percentage change in ty demanded divided by the percentage change in price • Elastic demand – ty demanded responds substantially to changes in price • Inelastic demand – ty demanded responds only slightly to changes in price © 2011 Cengage Learning. s . May not be copied, scanned, or duplicated, in whole or in part, except for use as 3 permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. The Elasticity of Demand • Determinants of price elasticity of demand – Availability of close substitutes • Goods with close substitutes – more elastic demand – Necessities vs. luxuries • Necessities – inelastic demand • Luxuries – elastic demand © 2011 Ceng