@@braydenmoore43 i probably got like a B+ or something I don't remember 😂
@anishsharma67023 жыл бұрын
Same
@yo-sai3 жыл бұрын
How was it?
@ashleynicoletonido4234 жыл бұрын
I SPENT HOURS OF WATCHING THIS VIDEO.. I FINALLY UNDERSTAND NOW HOW TO CALCULATE IT..
@Rose-vy1wg3 жыл бұрын
EXPLAIN PLEASE
@h.s.38832 жыл бұрын
I’m struggling with converting the fraction into a percentage. 🙄 I’m going to have to watch another video to figure that out and come back. 😂
@issaabdulsada4267 Жыл бұрын
@@h.s.3883 just multiply them by 100
@mujemufred5071 Жыл бұрын
BUT it seems wrong should be difference in qty out of sum of the two qty
@ajmalismail74272 жыл бұрын
Thank you sir. I have been struggling to understand this for hours. Finally i understood it. ♥
@oprahsgran59894 ай бұрын
I was spending the past few days being stressed and frustrated about this topic and 2mins into this video I already got it haha!!!
@Lucciddd4 ай бұрын
ong ong ong ong ong 🎉
@kennyreqruiter23812 жыл бұрын
Thank you, I could not actually understand when i saw my universiuty lesson video, but now i learnt it in 9 minutes, Thank you very much to Khan Academy team,
@essentialoilsnx94323 жыл бұрын
Price elasticity of demand is very good to know for business owners.
@maribelrodriguez94565 ай бұрын
I have been trying to figure out elasticity of demand for 2 days and I FINALLY understood it with your video! Thank you!
@mineheart92473 жыл бұрын
I have a test in 30 minutes, wish me luck 🙏
@ridhimamittal55014 жыл бұрын
Your explainations are literally the best have great life khan academy teachers u r doing a great job love your videos sooooonmuch very good concept explanation🙏🙏👌👌👍👍👍👍👏👏👏
@evelynhawn3400 Жыл бұрын
Thank you for getting me through college, Mr. Khan 😅
@dmdrendall2 жыл бұрын
Hi, Interesting you're considering a rate as a quantity. How does adding a time dimension ripple through other aspects including how the demand curve intersects with the supply curve, time value of the product? Also curious as to whether a demand curve's independent variable really is the quantity, rather than the price, since from the consumer's perspective, the quantity isn't usually the given. Typically a price is given, and then the consumer decides how much they want at that price.....sort of expressed as Q = f(P). Because we are typically in the position of having to derive a demand curve, using probability distributions of demand-side characteristics (i.e. demand destruction), and those probability distributions usually relate to the independent variable in a function, how should we normalize such relationships?
@omthapliyal88135 жыл бұрын
thnx for the videos sal.....love from INDIA
@britlewis76644 жыл бұрын
Why aren't you using the equation ((Q2-Q1)/(Q2+Q1)/2)/((P2-P1)/(P2+P1)/2). My professor and all other videos use this equation, and when you use it you get a different result.
@TheDjozer4 жыл бұрын
i think thats the midpoint technique
@calvinmarshall5194 жыл бұрын
That is the equation for the arc price elasticity of demand
@estherkang45934 жыл бұрын
How do you decide which formula to use?
@macherdavid4 жыл бұрын
@@estherkang4593 As far as I know, the midpoint technique is more frequently used. In the technique, what the video shows, it does matter if you count elasticity AB or BA (in this case you get 4). You will not get the same results. With the midpoint technique, it does not matter if you count AB or BA, you will get the same result. It is like an "average" elasticity.
@queenjessacogling3355 ай бұрын
Yes why?
@robitkarmacharya72387 ай бұрын
5:10 Price *ElasTiTi*
@nokubongamnisi3 ай бұрын
😂
@susanlam4127 Жыл бұрын
So helpful! Thank you for this.
@Roo_Ba_Roo2 жыл бұрын
Thanks , that’s a great comparative explanation!
@tanimabintehossain94854 ай бұрын
Thank you so much, sir. Now, I understand this method .
@AgrippaRahesi5 ай бұрын
Thanks for your help, now i can be able to understand.❤
@elizabeththabile86253 жыл бұрын
I have a test tomorrow I really hope I get this
@mohamadmubarak38703 жыл бұрын
LOOV YOU TO THE MOON AND BACK ❤️❤️❤️❤️❤️❤️
@user-ry9vz2wc7t10 ай бұрын
Thank you for that good work delivered to me
@symphony10453 жыл бұрын
thank you
@maheralimaher95435 жыл бұрын
why we did not divide by the average as in the first videos ?? Thanks
@sarahbardeskar22692 жыл бұрын
great explanation🙃
@EricPham-gr8pg4 ай бұрын
In the theory of price is the social and environmental cost is what killing us in long run but rarely people had it in condideration or correctly see it
@alebachewmengistie3544 Жыл бұрын
It is interesting! Thank you !
@TheTradeGallery8 ай бұрын
Alphabet needs this class
@MarqJimmy4 жыл бұрын
Test on monday, ill let yall know how i did
@enteetne67044 жыл бұрын
how did you do
@TwoSentenceHorror-994 жыл бұрын
Dude tell us....
@jashsomayya80394 жыл бұрын
Tell you bot!!
@zehelkitty67333 жыл бұрын
telll us
@navyagupta68143 жыл бұрын
NOW I AM INTRIGUED DID HIS TEST LAST A YEAR
@charlieyu8103 жыл бұрын
I'm wondering then how a market has elastic and inelastic? If we want to decide the market, is this market elastic or inelastic base on the example?
@saw3148911 ай бұрын
This isn't about a market, this is about consumer demand. Elasticity of demand is on the consumers. Elasticity if supply is on the producers. If it helps, the Elasticity of a market is a hindsight measurement or projection based on history. In this video discussing demand, it's about consumer reactions to market price changes. For example: cigarettes are addictive, if the price of cigarettes goes up, the consumer of that product will likely be unhappy, but will still but the product and we will see little to no difference in the sales of cigarettes (if the price increase is done in moderation of course). This is called an Inelastic market of demand because of the BUYERS habits. Opposite of that would be fast food, like McDonald's recently. They got rid of their dollar menu and raised prices to be equal to restaurant prices. When they raised prices, their sales dropped rapidly. The reason? People didn't think the juice was worth the squeeze... they didn't think it was worth it. This big drop in demand makes the fast food market, ELASTIC, because people are more willing to exercise choice in food. You can be as precise or broad when determining the market you're using, so keep that in mind. A few things that affect demand Elasticity are: - number of alternatives (more alternatives means more elastic and vice versa) - necessity vs luxury (necessities are Inelastic, luxuries are elastic) - time available for market adaptation (the more time that's available to the buyer before needing to purchase a good, the more elastic it becomes). Hope this helps
@user-nr9vo1kb7x Жыл бұрын
thank you so much
@raminmostamerzia74994 жыл бұрын
when we have p1 and p2 but do not have q1 and q2 and just have statement that it increases per kg, then what we should do?
@suparna_saha5 ай бұрын
very helpful
@geraldoyavo3366 Жыл бұрын
Great video here
@keonnebrown30652 жыл бұрын
Thank you!
@rimaperera382810 ай бұрын
Isn't -9 inelastic?
@FM-dm8xj2 жыл бұрын
thank you sir!
@janfy17874 жыл бұрын
he writes neater in computer than i do in my note😂
@vova123427 ай бұрын
hi from what i understand it is better to find companies with inelastic demand because they have somewhat of pricing power , but what if they run into competition and need to lower prices since their quantity barely affected in relation to price , i wonder if it true to assume the price elasticity can change from inelastic to elastic after this scenerio ?
@ameera.s13 жыл бұрын
I have a quiz tomorrow and this calculation is confusing me 😭
@naamomo94523 жыл бұрын
Me too
@ryanfarhat13042 жыл бұрын
how does this guy teach everything
@jamessamuel15412 жыл бұрын
nice vibes much love
@mohammedrashid29068 ай бұрын
Thank
@windowsexpertaa94023 жыл бұрын
Who has test of economics ?
@Annie-rq8xr2 жыл бұрын
I hve a test in 2 hours 32 minutes😊
@gemedoguto7233 Жыл бұрын
Driving of elasticity
@johnburson70 Жыл бұрын
My micro class requires using the midpoint method. So this method is in fact not sufficient.
@shine267811 ай бұрын
Exactly!
@amyamy62994 жыл бұрын
should you have a negative numbers for ED?
@famousamos4 жыл бұрын
No, you use absolute values. So the 'negative' number is turned into a positive. You're looking for the magnitude or change in price rather than trying to find a negative number.
@arabicman8664 жыл бұрын
@@famousamos Why do we take an absolute value?!
@justin-pd7iu3 жыл бұрын
@@arabicman866 Due to the law of demand, PED is typically negative. So for purpose of analysis, the negative sign is usually ignored and only magnitude is considered.
@Alex-hh3fe3 жыл бұрын
Have a test currently. Im struggling :(
@eversonbattung60139 ай бұрын
i have midterm examination in 2hours, manifesting to pass in exam🙏
@mujemufred5071 Жыл бұрын
DOUBLE CHECK
@ninapeate5271 Жыл бұрын
What if you were trying to find the elasticity of demand for the entire set of goods
@saw3148911 ай бұрын
Then you are using a broad market and it's elasticity will be more Inelastic as alternatives and substitutes get absorbed into your theoretical. The more broad a market, the less elastic (more Inelastic) it becomes
@ASIFFF3243410 ай бұрын
Oooon
@AnnaHisiluhepoNafuka-xl3il Жыл бұрын
Thank u sir 👍👍👍🇳🇦
@BCCgautham Жыл бұрын
Actually how the value of elasticity change from negative to positive during interpertation?
@saw3148911 ай бұрын
It's an absolute value equation. Not sure why he didn't add that
@user-cw6cw8pl8h Жыл бұрын
The price of elasticity of demand for the following product Product 1 Price S30 units sold 150 O00 price 2 S 24 units sold 18000
@andii-2 жыл бұрын
lol i have a test tomorrow and didnt pay attention in class send help
@codered68222 жыл бұрын
Me trying to understand before my exams which are 2 days away😅
@doomsaber1014 жыл бұрын
i dont get why he puts the fractions that way
@user-ri4gq3vb9x3 жыл бұрын
please how do i apply this knowledge to geophysic(seismic method)
@artughankarayel31823 жыл бұрын
Bro elasticity is different concept in geophysics. This is about economy.
@someonesomeone93003 жыл бұрын
Before goin to z exams ✌🏻
@msalarsiddique59523 жыл бұрын
Would you please Can prove price elasticity of demand is negitive for all negatively slope demand curve?
@saw3148911 ай бұрын
Demand is always negatively sloped when graphing it. Which direction you are heading is the question. To that, it's just math. Sorry, I know that might not be very helpful, but it's the way it id
@user-lm7bf7lt4m10 ай бұрын
I need to know who voices this ASAP
@charlesblythe95272 жыл бұрын
Hi Prof! Is there a possibility of finding a zero elastic answer since 0 > 1? :)
@sophia-et2xh Жыл бұрын
Definitely you can find an Ed of zero, but it cannot be greater than 1 since it is less than after all. So, in terms of its type, it's perfectly inelastic-meaning that no matter the change in price, the demand (dependent variable) remains the same which you'll find is a very rare case.
@eclipture37 ай бұрын
@@sophia-et2xhcan't it happen with necessitites with no substitution?But actually i guess most good have substitutions,but for instance if we take gas as a good,can it be perfectly inelastic?I think I'm talking nonsense
@arabicman8664 жыл бұрын
Why do we take an absolute value?!
@mbangrene68583 жыл бұрын
Everything may in be inelastic cause the negative sign will make the figures less than one. That's why midpoint technique is the best cause you don't need to assume or take absolute value.
@arabicman8663 жыл бұрын
@@mbangrene6858 thanks ❤️ I knew that later on 😅 but still thank you
@StanleySweet146 ай бұрын
What method is this known as?
@mohafzal27905 жыл бұрын
What about the cross elasticity of demand
@curiosityobstinacy13636 ай бұрын
I love you❤
@gladys910 ай бұрын
I am confused as to why Price from A to B is -1 and E to F is also - 1? why isn't it just 1?
@DShainberg2 жыл бұрын
I have an ECON 331 exam at 3 😭
@ismetsiriinn8 ай бұрын
i have a quiz in 20 minutes xd
@YoshiAirhead6 ай бұрын
i have one in an hour lololol
@ismetsiriinn6 ай бұрын
@@YoshiAirhead what happened ????? update me man
@misheruraa99283 жыл бұрын
What about if from point A to point E
@danicaellasiapno84313 жыл бұрын
Same question
@hansmokenieman49302 жыл бұрын
U know what we got here? We got an elastic product. U know what dat mean? Dat mean if people go ELSEwhere and get dey printin and copy'n done...DEY GONNA DO IT!
@nadirayhan5254 жыл бұрын
It's hard.😫
@haslan48854 жыл бұрын
It depends on what you've been studying. The first time I tried this, I understood nothing, but stumbled upon it once again when solving the exercises of my Calculus book (at the very beginning, like 'Chapter 2: Limits, Continuity and Derivatives'), and everything made sense
@temwanimulambia8339 Жыл бұрын
How is it 1 over 9 were did the 9 come from
@ishratpuspita20022 жыл бұрын
Can anyone plz tell me during covid 19, was the demand for apparel retail products elastic or inelastic?
@saw3148911 ай бұрын
Elastic. People weren't needing new clothing and incomes, by and large, didn't allow for much luxury purchases and any price shifts were met with scrutiny during this time. You also need to know the market for your country as well. This could be different depending on where you're from
@aubreytshiamogumbo953310 ай бұрын
I am writing in 30mims
@hermano80232 жыл бұрын
Got a test tmr lmao
@bhartiyainfo17235 жыл бұрын
Hi sal khan
@Corarii2 ай бұрын
dawg i just want to go to uconn for social work why do i have to take this fuckass class
@pragathik9115 Жыл бұрын
I have test in 10 mins
@barrykiplagat3 жыл бұрын
Thanks. Am sinking now hha
@itsrohit013 жыл бұрын
Wait, Is it a straight line or not! If it is, your whole calculation is wrong! Its the slope you refer to and that is constant lol. From your diagram, it is a crooked line and I hope it is so!