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Fanning 2019
Introduction to Microeconomics
Chapter 03: Supply, Demand and Elasticity
Inhalt: Chapter 3 deals with elasticity as a measure of how much buyers and sellers respond to changes in market conditions, which is necessary for assessing how total revenue will be affected by these changes. The central element of chapter 3 is the price elasticity of demand, its determinants, ranges and how to calculate it as well as the impact of price changes on total revenue. Income elasticity of demand, cross-price elasticity of demand and price elasticity of supply are also explained.
Stichwörter: Vortrag
Referent: Prof. Dr. Hiltgunt Fanning (Fachhochschule Stralsund)
Länge: 16.04 Minuten
  
Empfehlungen: Introduction to Microeconomics Chapter 02: Supply and Demand in Markets >>> weiter
Introduction to Microeconomics Chapter 04: Efficiency of markets and Elasticity >>> weiter
  
 
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