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  • Elasticity

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    Ankit
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    The document discusses the concepts of price elasticity of demand and supply. It contains 10 figures that illustrate different scenarios involving elasticity, including how total revenue is affected by elastic versus inelastic demand. The figures also examine how the price elasticity of supply can vary and how changes in supply can impact markets.

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    elasticity

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    elasticity

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    The document discusses the concepts of price elasticity of demand and supply. It contains 10 figures that illustrate different scenarios involving elasticity, including how total revenue is affected by elastic versus inelastic demand. The figures also examine how the price elasticity of supply can vary and how changes in supply can impact markets.

    Copyright:

    © All Rights Reserved
    Download as PPT, PDF, TXT or read online from Scribd
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    Download as ppt, pdf, or txt
    5 views22 pages

    Elasticity

    Uploaded by

    Ankit
    The document discusses the concepts of price elasticity of demand and supply. It contains 10 figures that illustrate different scenarios involving elasticity, including how total revenue is affected by elastic versus inelastic demand. The figures also examine how the price elasticity of supply can vary and how changes in supply can impact markets.

    Copyright:

    © All Rights Reserved
    Download as PPT, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as ppt, pdf, or txt
    of 22

    Elasticity and Its

    5
    Application

    Copyright © 2004 South-Western


    Figure 1a The Price Elasticity of Demand

    Copyright © 2004 South-Western


    Figure 1b The Price Elasticity of Demand

    Copyright © 2004 South-Western


    Figure 1c The Price Elasticity of Demand

    Copyright © 2004 South-Western


    Figure 1d The Price Elasticity of Demand

    Copyright © 2004 South-Western


    Figure 1e The Price Elasticity of Demand

    Copyright © 2004 South-Western


    Figure 2 Total Revenue

    Copyright © 2004 South-Western


    Figure 3 How Total Revenue Changes When Price
    Changes: Inelastic Demand

    Copyright © 2004 South-Western


    Figure 4 How Total Revenue Changes when Price
    Changes: Elastic Demand

    Copyright © 2004 South-Western


    Figure 5 Elasticity of a Linear Demand Curve

    Copyright © 2004 South-Western


    Figure 5 Elasticity of a Linear Demand Curve

    Copyright © 2004 South-Western


    Figure 6a The Price Elasticity of Supply

    Copyright © 2004 South-Western


    Figure 6b The Price Elasticity of Supply

    Copyright © 2004 South-Western


    Figure 6c The Price Elasticity of Supply

    Copyright © 2004 South-Western


    Figure 6d The Price Elasticity of Supply

    Copyright © 2004 South-Western


    Figure 6e The Price Elasticity of Supply

    Copyright © 2004 South-Western


    Figure 7 How the Price Elasticity of Supply Can
    Vary

    Copyright © 2004 South-Western


    Figure 8 An Increase in Supply in the Market for
    Wheat

    Copyright © 2004 South-Western


    Figure 9a A Reduction in Supply in the World
    Market for Oil

    Copyright © 2004 South-Western


    Figure 9b A Reduction in Supply in the World
    Market for Oil

    Copyright © 2004 South-Western


    Figure 10a Policies to Reduce the Use of Illegal
    Drugs

    Copyright © 2004 South-Western


    Figure 10b Policies to Reduce the Use of Illegal
    Drugs

    Copyright © 2004 South-Western

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