曼昆微观经济学 第五版 第五章 课文.ppt

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1、ElasticityandItsApplicationChapter5Copyright©2001byHarcourt,Inc.Allrightsreserved.  Requestsforpermissiontomakecopiesofanypartoftheworkshouldbemailedto:PermissionsDepartment,HarcourtCollegePublishers,6277SeaHarborDrive,Orlando,Florida32887-6777.Elasticity

2、...…isameasureofhowmuchbuyersandsellersrespondtochangesinmarketconditions…allowsustoanalyzesupplyanddemandwithgreaterprecision.PriceElasticityofDemandPriceelasticityofdemandisthepercentagechangeinquantitydemandedgivenapercentchangeintheprice.Itisameasureofhow

3、muchthequantitydemandedofagoodrespondstoachangeinthepriceofthatgood.DeterminantsofPriceElasticityofDemandNecessitiesversusLuxuriesAvailabilityofCloseSubstitutesDefinitionoftheMarketTimeHorizonDeterminantsofPriceElasticityofDemandDemandtendstobemoreelastic:i

4、fthegoodisaluxury.thelongerthetimeperiod.thelargerthenumberofclosesubstitutes.themorenarrowlydefinedthemarket.ComputingthePriceElasticityofDemandThepriceelasticityofdemandiscomputedasthepercentagechangeinthequantitydemandeddividedbythepercentagechangeinprice.

5、ComputingthePriceElasticityofDemandExample:Ifthepriceofanicecreamconeincreasesfrom$2.00to$2.20andtheamountyoubuyfallsfrom10to8conesthenyourelasticityofdemandwouldbecalculatedas:ComputingthePriceElasticityofDemandUsingtheMidpointFormulaThemidpointformulaispref

6、erablewhencalculatingthepriceelasticityofdemandbecauseitgivesthesameanswerregardlessofthedirectionofthechange.ComputingthePriceElasticityofDemandExample:Ifthepriceofanicecreamconeincreasesfrom$2.00to$2.20andtheamountyoubuyfallsfrom10to8conestheyourelasticityo

7、fdemand,usingthemidpointformula,wouldbecalculatedas:RangesofElasticityInelasticDemandQuantitydemandeddoesnotrespondstronglytopricechanges.Priceelasticityofdemandislessthanone.ElasticDemandQuantitydemandedrespondsstronglytochangesinprice.Priceelasticityofdeman

8、disgreaterthanone.ComputingthePriceElasticityofDemandDemandispriceelastic$54DemandQuantity1000Price50RangesofElasticityPerfectlyInelasticQuantitydemandeddoesnotrespondtopricechanges.Perfe