武漢大學(xué)mba管理經(jīng)濟(jì)學(xué)第三章-wenkub.com
2025-01-08 09:55 本頁面
【正文】 I + 2Expenditures on Chevrolets 187。%?Q/ %?I = (1560/5980)?(10,000/25,000) = .652 Slide 21 Definitions ? If E I is positive, then it is a normal or ine superior good 187。consider examples of business travel versus vacation travel for all three above. Slide 20 Ine Elasticity E I = %?Q/ %?I =(??Q/??I)( I / Q) ? arc ine elasticity: 187。 and P = 80 ? E Q?P = (??Q/?P)(P/Q) = 5(30/350) = .43 ? E Q?P = (??Q/?P)(P/Q) = 5(50/250) = ? E Q?P = (??Q/?P)(P/Q) = 5(80/100) = Slide 15 Price Elasticity (both point price and arc elasticity ) ? If E P = 1, unit elastic ? If E P 1, inelastic, ., ? If E P 1, elastic, ., price elastic region unit elastic inelastic region Straight line demand curve Slide 16 TR and Price Elasticities ? If you raise price, does TR rise? ? Suppose demand is elastic, and raise price. TR = P?Q, so, %?TR = %?P+ %?Q ? If elastic, P , but Q a lot ? Hence TR FALLS !!! ? Suppose demand is inelastic, and we decide to raise price. What happens to TR and TC and profit? Slide 17 Another Way to Remember ? Linear demand curve ? TR on other curve ? Look at arrows to see movement in TR Elastic Unit Elastic Inelastic TR Q Q Slide 18 1979 Deregulation of Airfares ? Prices declined ? Passengers increased ? Total Revenue Increased ? What does this imply about the price elasticity of air travel ? Slide 19 Determinants of the Price Elasticity ? The number of close substitutes 187。 able Q P Slide 9 Downward Slope ? Reasons that price and quantity are negatively related include: 187。 Cigarettes ? Raising cigarette taxes reduces smoking 187。In Canada, $4 for a pack of cigarettes reduced smoking 38% in a decade ? But cigarette taxes al
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