elasticity_and_its_applications-閱讀頁
2025-08-06 08:22本頁面
【正文】 PPLY ? Price elasticity of supply is a measure of how much the quantity supplied of a good responds to a change in the price of that good. ? Price elasticity of supply is the percentage change in quantity supplied resulting from a one percent change in price. Figure 6 The Price Elasticity of Supply (a) Perfectly Price Inelastic Supply: Elasticity Equals 0 €5 4 Supply Quantity 100 0 1. An increase in price . . . 2. . . . leaves the quantity supplied unchanged. Price Copyright169。2022 SouthWestern Figure 6 The Price Elasticity of Supply (c) Unit Elastic Supply: Elasticity Equals 1 125 €5 100 4 Quantity 0 Price 2. . . . leads to a 22% increase in quantity supplied. 1. A 22% increase in price . . . Supply Copyright169。2022 SouthWestern Figure 6 The Price Elasticity of Supply (e) Perfectly Price Elastic Supply: Elasticity Equals Infinity Quantity 0 Price €4 Supply 3. At a price below €4, quantity supplied is zero. 2. At exactly €4, producers will supply any quantity. 1. At any price above €4, quantity supplied is infinite. 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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