How to calculate the coefficient of the price elasticity of demand.
Пікірлер: 92
@rogerstrickland400410 жыл бұрын
:) Thank you for your kind comments. You make everyday start with a smile!
@teresalmao12 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.
@atmt52510 жыл бұрын
Brilliant explanation in a brief amount of time !
@kato6412 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!!
@lexparsimoniae21077 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.
@DumbAndDumberTV11 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!
@ldag9212 жыл бұрын
Thank you. I have been struggling with price elasticity, and you made it so simple and easy to understand!
@jproknapp109 жыл бұрын
Thank you for saying what the professors assume you know already. Very great explanation and I appreciate it!
@jojitup8911 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!
@sdevastator12 жыл бұрын
You are a great teacher. Thanks for posting ALL of your videos!
@808thump9 жыл бұрын
One word description- Amazing!
@injehst12 жыл бұрын
Excellent video, paying ridiculous tuition fees and you've explained it better even with an american accent! Cheers
@omarwahban254311 жыл бұрын
Amazing! ... I spent days trying to understand this...really thanks...from Alexandria Egypt :)
@rumshasiddiqui408010 жыл бұрын
THANK YOUU!!!! You're a hero! You explain sooooo well. EXCELLENT!!!
@sexybron112 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_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
@rogerstrickland40046 жыл бұрын
Your great comment is all the tuition I need. :)
@TheProudDiaries12 жыл бұрын
Thank you to help me before midterm test one day. I'm from Thailand, Thank you very much!!
@jakenshake1212 жыл бұрын
You have really helped me with my college Econ class! Thank you!
@XNemo311 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!
@OmarPR10012 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!
@billkindle453712 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.
@jasonolga9 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.
@iscoldghimire59868 жыл бұрын
Sir, you rock and the way you make the things crystal clear... O my god...
@alinacartas342510 жыл бұрын
you just helped me hopefully pass my exam! thank you!!
@4lyphejr12 жыл бұрын
excellent job real simple only if we had more lecturers like u
@cameronw.277510 жыл бұрын
You sir are a beauty! Thank you so much
@parzrelmuzik12 жыл бұрын
Excellent presentation- clear and to the point
@malkavian69 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.
@xogitzerbabexo8 жыл бұрын
This was easy to understand and explained very well! Thank you.
@jaketruscott892010 жыл бұрын
thank you so much for making these videos! my econ prof is so hard to understand
@pickledbushman11 жыл бұрын
This guy rocks! I needed this, thanks!
@kattelyn9211 жыл бұрын
My book has some huge ridiculous formula, and this is so simple. Thanks!
@HISHAM93112 жыл бұрын
Amazing teacher!!!. My textbook couldnt provide a proper example. Time to ace that microeconomics test.
@peternjoroge10065 жыл бұрын
SUPEB! I THINK YOU HAVE MADE ME TO UNDERSTAND THE WHOLE THING SO WELL.INDEED YOU ARE A WIZARD OF THIS@@@@
@rogerstrickland40045 жыл бұрын
Thank you; your response has begun a great day! ;)
@jamiecousins758011 жыл бұрын
Thank you for your help! Perfectly explained for me!
@rabeccamwila13142 жыл бұрын
you make life better! thank you
@rippedturkey9 жыл бұрын
This guy is my fave
@azlaania12 жыл бұрын
thanks for making my life easy !!
@utopiatech814410 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.
@utopiatech814410 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. :)
@trinessmal11 жыл бұрын
Thank you so much for posting this!!!!!!
@rychavez0812 жыл бұрын
helped a lot and you were very thorough
@vieltinio9 жыл бұрын
LIFESAVER! THANK YOU SO MUCHHHH
@kcirtapyabes9 жыл бұрын
Thank You! Perfect instruction.
@stuartjohnston92610 жыл бұрын
Excellent video. Thank you.
@tkerby9111 жыл бұрын
very good and clear instruction
@yveslarochelle25196 жыл бұрын
thank you Sir you make it simpler to understand
@02sindhus11 жыл бұрын
Excellent video!
@RichardMillion11 жыл бұрын
Amazing Teacher .
@RSTeong9 жыл бұрын
Thank you for your great explanation on this subject! My prof. couldn't do this within a 2 hour period...
@Tigerjz3211 жыл бұрын
Love these videos! 3:43 cracked me up :)
@Jashi_Kholin11 жыл бұрын
You are awesome!!! Thank you sooooo much!!
@clogel00611 жыл бұрын
thanks. the explanation is more vivid compared to mcconnell's book.
@zifty69638 жыл бұрын
hero
@Eighty6TVSA12 жыл бұрын
best explanation! thank you!
@sweetx0vmp11 жыл бұрын
AMAZING! Thank you!!
@TheWyvern6612 жыл бұрын
I really appreciate your feedback! RS
@parzrelmuzik11 жыл бұрын
Benificial lesson lesson
@abeycr12 жыл бұрын
Your great.!
@derrickokai707311 жыл бұрын
Ur the best
@glennaccad37127 жыл бұрын
This is a great
@walelux12 жыл бұрын
Thank you Sir!
@scarrrrrrrr12 жыл бұрын
Thanks a lot paps
@minh85411 жыл бұрын
thanks Prof
@gammachiss.ejerso32917 жыл бұрын
Thank you sir.
@SSValient11 жыл бұрын
taking Econ, very helpful
@ManikinMr9 жыл бұрын
Thank you for that.
@salamat123able12 жыл бұрын
is there any video on economies of scale and scope?? thanks
@roderickrodriguez37199 жыл бұрын
thank you
@WesleyHamstreet12 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.
@gbomko11 жыл бұрын
Thank u so muchhh!
@TrannyFluids7 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?
@TheWyvern667 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. :)
@stuartjohnston92610 жыл бұрын
How did you get the 9/2 ?
@sabahrayan13 жыл бұрын
i love your teaching style...come and replace my prof:)
@itsvernon7 жыл бұрын
Thanks
@lukpat111 жыл бұрын
wow this made it so simple x_x what have i been doing before? :S
@spesalfred13 жыл бұрын
thanks
@kevintolly11 жыл бұрын
You should come teach at the University of North Dakota
@irvingariasdromundo332410 жыл бұрын
i love u man
@Eta_Carinae__6 жыл бұрын
can't we just rewrite as Ed = Pi/Qdi * dQd/dP (i is initial)?
@ttt611411 жыл бұрын
How did you get 2/9 again
@MrMoayyad123411 жыл бұрын
relly thank you
@elvergo197013 жыл бұрын
simple math? It should be delta p over delta Q instead, which is the way we do it in calculus.