Presentation On ELASTICITY OF DEMAND. Prepared By Vyas Harshal.
Elasticity of Demand & Supply 20 C H A P T E R From Ch. 3 make sure you know the following: Define demand and supply and state the laws of demand and.
Elasticity Elasticity measures the degree of one variables dependence on another variable, or the sensitivity of one variable to a change in another variable.
L07 Slutsky Equation. Previous Class Demand function How the demand is affected by a) p 1 change, holding p 2 and m constant b) m change, holding p 2.
Chapter Eight Slutsky Equation. Effects of a Price Change u What happens when a commoditys price decreases? –Substitution effect: the commodity is relatively.
ECON 100 Tutorial: Week 4 [email protected] office hours: 3:45PM to 4:45PM tuesday LUMS C85.
W HAT ARE THE FACTORS WHICH CAN CAUSE A CHANGE IN D EMAND ? Aim: To understand the factors which influence demand.
Three sections Section 1 Discriminatory two-part tariff Section 2 Uniform two-part tariff Section 3 Applications of two-part tariff Volume.
HL MARKETING THEORY ELASTICITY IB BUSINESS & MANAGEMENT – A COURSE COMPANION: p214-218.
Copyright © 2010 by the McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin Managerial Economics & Business Strategy Chapter 4 The Theory.
Chapter 2 Demand
10 monetary & fiscal policy2
