Economics Presentation.

Chapter 4 Price and income elasticity $ Price ,[object Object],[object Object],[object Object],$ Income

Lecture Plan ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Price Elasticity of Demand ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

1. Elastic Demand ,[object Object],[object Object],[object Object]

2. Inelastic Demand ,[object Object],[object Object]

3. Unit Elasticity ( E d = 1) ,[object Object],[object Object]

4. Perfectly Elastic Demand ( E d =  ,[object Object],[object Object]

5. Perfectly Inelastic Demand ( E d = 0) ,[object Object],[object Object],[object Object]

Measuring Elasticity of Demand ,[object Object],[object Object],[object Object]

[object Object],[object Object],[object Object],[object Object],1. Total revenue method

Example A ,[object Object],[object Object],[object Object],[object Object],[object Object]

Example B ,[object Object],[object Object],[object Object],[object Object],P Q D 10 8 6 30 40 50 A B C

Summary of Total Revenue Method ,[object Object],[object Object],[object Object]

2. The Point Method ,[object Object],[object Object],[object Object],[object Object],[object Object]

Interpretations ,[object Object],[object Object],[object Object],[object Object],[object Object],(cont.)

Interpretations (cont.) ,[object Object],[object Object],[object Object],[object Object],[object Object]

Income Elasticity of Demand ,[object Object],[object Object]

Price Elasticity of Supply ,[object Object],[object Object],[object Object],[object Object]

Factors affecting elasticity of demand ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Factors affecting elasticity of supply ,[object Object],[object Object],[object Object],[object Object]

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