No video

The Price Elasticity of Demand 2 - Calculations

  Рет қаралды 84,134

Wyvern66 Economics

Wyvern66 Economics

Күн бұрын

How to calculate the coefficient of the price elasticity of demand.

Пікірлер: 92
@rogerstrickland4004
@rogerstrickland4004 10 жыл бұрын
:) Thank you for your kind comments. You make everyday start with a smile!
@teresalmao
@teresalmao 12 жыл бұрын
Taking graduate advanced Econ online w/o having the pre-reqs. Summer class is 5 weeks and my book came in two weeks late. I watched you video to help me answer a mid-term question. Thank you sooo much, Sir. Thank you for taking the time to post these videos.
@atmt525
@atmt525 10 жыл бұрын
Brilliant explanation in a brief amount of time !
@kato64
@kato64 12 жыл бұрын
My wife just started Microeconomics as part of her Human Resources crse. Her instructor seems overextended and doesn't have time to explain concepts in detail. My wife is a visual learner. The textbook explanation was Greek to her, & my attempts to help were fruitless. This is an easy to understand & very straightforward explanation that has proven to be the Rosetta Stone for both of us in understanding the formula to calculate PED. ('m not even taking the course! lol) THANK YOU SIR!!
@lexparsimoniae2107
@lexparsimoniae2107 7 жыл бұрын
You sire make the world a more educated place, one video at a time. Thanks for being so highly pedagogical in your teaching.
@DumbAndDumberTV
@DumbAndDumberTV 11 жыл бұрын
Amazing teacher, have spent sleepless nights trying to get these formulas down.. Now I understand it! You have a very thankful Events Management university student over here in the UK!
@ldag92
@ldag92 12 жыл бұрын
Thank you. I have been struggling with price elasticity, and you made it so simple and easy to understand!
@jproknapp10
@jproknapp10 9 жыл бұрын
Thank you for saying what the professors assume you know already. Very great explanation and I appreciate it!
@jojitup89
@jojitup89 11 жыл бұрын
just thought I would let you know I got an A+ in a university course (Econ 100) by solely using your videos! My prof always asked me how I knew everything so well. Keep up the good work you are helping many!
@sdevastator
@sdevastator 12 жыл бұрын
You are a great teacher. Thanks for posting ALL of your videos!
@808thump
@808thump 9 жыл бұрын
One word description- Amazing!
@injehst
@injehst 12 жыл бұрын
Excellent video, paying ridiculous tuition fees and you've explained it better even with an american accent! Cheers
@omarwahban2543
@omarwahban2543 11 жыл бұрын
Amazing! ... I spent days trying to understand this...really thanks...from Alexandria Egypt :)
@rumshasiddiqui4080
@rumshasiddiqui4080 10 жыл бұрын
THANK YOUU!!!! You're a hero! You explain sooooo well. EXCELLENT!!!
@sexybron1
@sexybron1 12 жыл бұрын
thank you thank you and thank you sir!!!!!!!!! this is by far the best explanation of elasticity i have received ever!!!! thanks again.....good job
@peppa_pig_
@peppa_pig_ 6 жыл бұрын
you're a lifesaver! it's rare to find a teacher that's actually great at their job i should be paying you tuition lol
@rogerstrickland4004
@rogerstrickland4004 6 жыл бұрын
Your great comment is all the tuition I need. :)
@TheProudDiaries
@TheProudDiaries 12 жыл бұрын
Thank you to help me before midterm test one day. I'm from Thailand, Thank you very much!!
@jakenshake12
@jakenshake12 12 жыл бұрын
You have really helped me with my college Econ class! Thank you!
@XNemo3
@XNemo3 11 жыл бұрын
Omg. THANK YOU!!! I have been trying some other formula my instructor gave me and it hasn't been working out for me. You sir, are an excellent instructor!
@OmarPR100
@OmarPR100 12 жыл бұрын
THANK YOU!!! This video helped a lot for my micro intermediate course in my uni at puerto rico. Your really good at explaining, again thanks for the video!
@billkindle4537
@billkindle4537 12 жыл бұрын
Excellent video, I'm a visual learner and this video did a great job explaining the formula. McGraw-Hill brushes over it with vague examples in their textbook.
@jasonolga
@jasonolga 9 жыл бұрын
I have emailed in the last 4 days been stuck on this, twice, i have put the question of how to do this on my online course forum board. I got no replies in 4 days. I watch you vid and i got it. You put a big smile on my face today THANK YOU!! I'm watching the rest of your Vid's.
@iscoldghimire5986
@iscoldghimire5986 8 жыл бұрын
Sir, you rock and the way you make the things crystal clear... O my god...
@alinacartas3425
@alinacartas3425 10 жыл бұрын
you just helped me hopefully pass my exam! thank you!!
@4lyphejr
@4lyphejr 12 жыл бұрын
excellent job real simple only if we had more lecturers like u
@cameronw.2775
@cameronw.2775 10 жыл бұрын
You sir are a beauty! Thank you so much
@parzrelmuzik
@parzrelmuzik 12 жыл бұрын
Excellent presentation- clear and to the point
@malkavian6
@malkavian6 9 жыл бұрын
Thank you - that is very helpful. Ditto on the clear and well explained tutorial for the midpoint formula. I kept getting it wrong until I watched your explanation and tried it - got it right and very happy that people like yourself are willing to share their knowledge to help the rest of us who are just learning your area of expertise.
@xogitzerbabexo
@xogitzerbabexo 8 жыл бұрын
This was easy to understand and explained very well! Thank you.
@jaketruscott8920
@jaketruscott8920 10 жыл бұрын
thank you so much for making these videos! my econ prof is so hard to understand
@pickledbushman
@pickledbushman 11 жыл бұрын
This guy rocks! I needed this, thanks!
@kattelyn92
@kattelyn92 11 жыл бұрын
My book has some huge ridiculous formula, and this is so simple. Thanks!
@HISHAM931
@HISHAM931 12 жыл бұрын
Amazing teacher!!!. My textbook couldnt provide a proper example. Time to ace that microeconomics test.
@peternjoroge1006
@peternjoroge1006 5 жыл бұрын
SUPEB! I THINK YOU HAVE MADE ME TO UNDERSTAND THE WHOLE THING SO WELL.INDEED YOU ARE A WIZARD OF THIS@@@@
@rogerstrickland4004
@rogerstrickland4004 5 жыл бұрын
Thank you; your response has begun a great day! ;)
@jamiecousins7580
@jamiecousins7580 11 жыл бұрын
Thank you for your help! Perfectly explained for me!
@rabeccamwila1314
@rabeccamwila1314 2 жыл бұрын
you make life better! thank you
@rippedturkey
@rippedturkey 9 жыл бұрын
This guy is my fave
@azlaania
@azlaania 12 жыл бұрын
thanks for making my life easy !!
@utopiatech8144
@utopiatech8144 10 жыл бұрын
that part at 2:25 with 4+16 and 24-4 is amazing, i'v never seen that before. omg , keep uploading amazing tutorials sir.
@utopiatech8144
@utopiatech8144 10 жыл бұрын
I did another example myself with 10 and 20 and I got the average by adding 5 to 10 or subtracting 5 from 20, amazing. :)
@trinessmal
@trinessmal 11 жыл бұрын
Thank you so much for posting this!!!!!!
@rychavez08
@rychavez08 12 жыл бұрын
helped a lot and you were very thorough
@vieltinio
@vieltinio 9 жыл бұрын
LIFESAVER! THANK YOU SO MUCHHHH
@kcirtapyabes
@kcirtapyabes 9 жыл бұрын
Thank You! Perfect instruction.
@stuartjohnston926
@stuartjohnston926 10 жыл бұрын
Excellent video. Thank you.
@tkerby91
@tkerby91 11 жыл бұрын
very good and clear instruction
@yveslarochelle2519
@yveslarochelle2519 6 жыл бұрын
thank you Sir you make it simpler to understand
@02sindhus
@02sindhus 11 жыл бұрын
Excellent video!
@RichardMillion
@RichardMillion 11 жыл бұрын
Amazing Teacher .
@RSTeong
@RSTeong 9 жыл бұрын
Thank you for your great explanation on this subject! My prof. couldn't do this within a 2 hour period...
@Tigerjz32
@Tigerjz32 11 жыл бұрын
Love these videos! 3:43 cracked me up :)
@Jashi_Kholin
@Jashi_Kholin 11 жыл бұрын
You are awesome!!! Thank you sooooo much!!
@clogel006
@clogel006 11 жыл бұрын
thanks. the explanation is more vivid compared to mcconnell's book.
@zifty6963
@zifty6963 8 жыл бұрын
hero
@Eighty6TVSA
@Eighty6TVSA 12 жыл бұрын
best explanation! thank you!
@sweetx0vmp
@sweetx0vmp 11 жыл бұрын
AMAZING! Thank you!!
@TheWyvern66
@TheWyvern66 12 жыл бұрын
I really appreciate your feedback! RS
@parzrelmuzik
@parzrelmuzik 11 жыл бұрын
Benificial lesson lesson
@abeycr
@abeycr 12 жыл бұрын
Your great.!
@derrickokai7073
@derrickokai7073 11 жыл бұрын
Ur the best
@glennaccad3712
@glennaccad3712 7 жыл бұрын
This is a great
@walelux
@walelux 12 жыл бұрын
Thank you Sir!
@scarrrrrrrr
@scarrrrrrrr 12 жыл бұрын
Thanks a lot paps
@minh854
@minh854 11 жыл бұрын
thanks Prof
@gammachiss.ejerso3291
@gammachiss.ejerso3291 7 жыл бұрын
Thank you sir.
@SSValient
@SSValient 11 жыл бұрын
taking Econ, very helpful
@ManikinMr
@ManikinMr 9 жыл бұрын
Thank you for that.
@salamat123able
@salamat123able 12 жыл бұрын
is there any video on economies of scale and scope?? thanks
@roderickrodriguez3719
@roderickrodriguez3719 9 жыл бұрын
thank you
@WesleyHamstreet
@WesleyHamstreet 12 жыл бұрын
Any chance that you might post a video that considers PED and XPED of an exponential demand function? Consider a demand function for luxury cars where P = European lux cars, P sub a = American lux cars, P sub j = Japanese lux cars, y = income. i.e.. Q = 1000 * P^-0.93 * Pa^0.75 * Pj^1.2 * Y^1.6 Walk through the relations of Euro to American, Euro to Japanese, American to Japanese.... interpretations? How a manager might use this function to set goals.
@gbomko
@gbomko 11 жыл бұрын
Thank u so muchhh!
@TrannyFluids
@TrannyFluids 7 жыл бұрын
Here's a question: Market demand is given as QD = 60 - P. Market supply is given as QS = 3P. If price increases from $30 to $34, what is the price elasticity of demand?
@TheWyvern66
@TheWyvern66 7 жыл бұрын
Sorry for the delay. The market supply is irrelevant. The calculation is to determine quantity demanded at $30 and at $34. That would be 30 units and 26 units, respectively. Thus the price elasticity of demand is %change Qd divided by %change Price OR: (4/28) / (4/32) which is .1414//.1250 which is ... 1.13. :)
@stuartjohnston926
@stuartjohnston926 10 жыл бұрын
How did you get the 9/2 ?
@sabahrayan
@sabahrayan 13 жыл бұрын
i love your teaching style...come and replace my prof:)
@itsvernon
@itsvernon 7 жыл бұрын
Thanks
@lukpat1
@lukpat1 11 жыл бұрын
wow this made it so simple x_x what have i been doing before? :S
@spesalfred
@spesalfred 13 жыл бұрын
thanks
@kevintolly
@kevintolly 11 жыл бұрын
You should come teach at the University of North Dakota
@irvingariasdromundo3324
@irvingariasdromundo3324 10 жыл бұрын
i love u man
@Eta_Carinae__
@Eta_Carinae__ 6 жыл бұрын
can't we just rewrite as Ed = Pi/Qdi * dQd/dP (i is initial)?
@ttt6114
@ttt6114 11 жыл бұрын
How did you get 2/9 again
@MrMoayyad1234
@MrMoayyad1234 11 жыл бұрын
relly thank you
@elvergo1970
@elvergo1970 13 жыл бұрын
simple math? It should be delta p over delta Q instead, which is the way we do it in calculus.
@Bocks16
@Bocks16 12 жыл бұрын
you're such a beauty
The Price Elasticity of Demand 3 -  Straight Line Demand Curve
8:54
Wyvern66 Economics
Рет қаралды 51 М.
The Price Elasticity of Demand 1 - Overview
7:42
Wyvern66 Economics
Рет қаралды 67 М.
I Took a LUNCHBAR OFF A Poster 🤯 #shorts
00:17
Wian
Рет қаралды 5 МЛН
小丑把天使丢游泳池里#short #angel #clown
00:15
Super Beauty team
Рет қаралды 47 МЛН
SPONGEBOB POWER-UPS IN BRAWL STARS!!!
08:35
Brawl Stars
Рет қаралды 21 МЛН
Calculating the Elasticity of Demand
15:52
Marginal Revolution University
Рет қаралды 1,1 МЛН
Deriving the Lerner Index
8:37
jodiecongirl
Рет қаралды 27 М.
Economics Basics : Finding Equilibrium
5:48
tutor717
Рет қаралды 193 М.
Price Elasticity of Demand - part 2
6:57
pajholden
Рет қаралды 193 М.
Income elasticity of demand | APⓇ Microeconomics | Khan Academy
7:05
02 Calculating price elasticity of demand
5:05
Celia Van Zyl
Рет қаралды 10 М.
I Took a LUNCHBAR OFF A Poster 🤯 #shorts
00:17
Wian
Рет қаралды 5 МЛН