elasticity_and_its_applications-資料下載頁
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【正文】 nge in price. P r i c e e l a s t i c i t y o f s u p p l y =P e r c e n t a g e c h a n g e i n q u a n t i t y s u p p l i e dP e r c e n t a g e c h a n g e i n p r i c eTHREE APPLICATIONS OF SUPPLY, DEMAND, AND ELASTICITY ? Can good news for the puter industry be bad news for silicon chip makers? ? What happens to chip makers and the market for chips when scientists discover a new material for making chips that is more productive than silicon? THREE APPLICATIONS OF SUPPLY, DEMAND, AND ELASTICITY ? Examine whether the supply or demand curve shifts. ? Determine the direction of the shift of the curve. ? Use the supply and demand diagram to see how the market equilibrium changes. Figure 8 An Increase in Supply in the Market for Computer chips Quantity of Chips 0 Price of Chips 3. . . . and a proportionately smaller increase in quantity sold. As a result, revenue falls from €300 to €220. Demand S1 S2 2. . . . leads to a large fall in price . . . 1. When demand is price inelastic an increase in supply… 2 110 €3 100 Copyright169。2022 SouthWestern Compute the Price Elasticity of Demand ED???????? ?100 110100 110 23 00 2 003 00 2 00 20 0950 40 24( ) /. .( . . ) /...Demand is price inelastic Summary ? Price elasticity of demand measures how much the quantity demanded responds to changes in the price. ? Price elasticity of demand is calculated as the percentage change in quantity demanded divided by the percentage change in price. ? If a demand curve is elastic, total revenue falls when the price rises. ? If it is inelastic, total revenue rises as the price rises. Summary ? The ine elasticity of demand measures how much the quantity demanded responds to changes in consumers’ ine. ? The crossprice elasticity of demand measures how much the quantity demanded of one good responds to the price of another good. ? The price elasticity of supply measures how much the quantity supplied responds to changes in the price. Summary ? In most markets, supply is more price elastic in the long run than in the short run. ? The price elasticity of supply is calculated as the percentage change in quantity supplied divided by the percentage change in price. ? The tools of supply and demand can be applied in many different types of markets.
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