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Calculating Elasticity of Demand [GIVEN A CHANGE IN PRICE] | Think Econ 

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In this video we explore how to calculate the elasticity of demand given only the Demand equation and a change in price!
#microeconomics #priceelasticity #priceelasticityofdemand
Elasticity Playlist:
• The 4 Types of Elastic...
Keywords:
how to calculate elasticity with a price change,
how to calculate elasticity using price,
how to calculate elasticity of demand,
how to determine the elasticity of demand,
Inelastic demand,
Elastic demand,
price elasticity of demand,
Think Econ,
demand class 11

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20 окт 2024

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Комментарии : 41   
@ThinkEcon
@ThinkEcon Год назад
Don't forget to like the video, and subscribe to the channel for more economic videos! :)
@thoshankaamarasinghe9179
@thoshankaamarasinghe9179 Год назад
Thank you so much for all the videos. I learned all about Elasticity of demand, Price elasticity, income elasticity all of them thanks to you as I am sitting for my A levels this November. I am so grateful to you (Think Econ) for the invaluable services you provide to students like us which I can't put into words. I would like to request a video on Subsidy and tax distribution as I could not find any videos related to these. Also Arc elasticity and Point elasticity if possible :) Thank you so so much once again and blessings!!
@ThinkEcon
@ThinkEcon Год назад
I appreciate the kind words, and am so happy that you find the videos helpful. We can absolutely make some videos on these topics!
@thoshankaamarasinghe9179
@thoshankaamarasinghe9179 Год назад
@@ThinkEcon Thank you so much ❤ I would also like to request video lessons for progressive, regressive and proportional tax if it's not too much to ask for 💖😇
@olayinkabalogun243
@olayinkabalogun243 19 часов назад
What is the fourmal
@mannychong100
@mannychong100 11 дней назад
Thank you for your service brother
@ThinkEcon
@ThinkEcon 5 дней назад
Glad I could help!
@degefuademe2359
@degefuademe2359 8 месяцев назад
Please I need simple calculus in economics
@shettlock
@shettlock 5 месяцев назад
Hey there! I enjoy your videos. That being said are you aware of any other channels that cover more advanced topics
@ArdillaINC
@ArdillaINC 2 месяца назад
Wait so for this we already have to know the second quantity? What if we know the price changes but we are trying to figure out what that will mean for quantity?
@JonRavenMagtibay
@JonRavenMagtibay 6 дней назад
What happen to the negative in 0.33/1?
@east5768
@east5768 5 дней назад
What if its 1=1 ? is it inelastic still?
@ThinkEcon
@ThinkEcon 5 дней назад
Great question! An elasticity of exactly 1 is something known as “unitary elasticity” and is neither elastic nor inelastic
@denveroutschoorn6042
@denveroutschoorn6042 8 месяцев назад
thank you
@mbeetrades
@mbeetrades 5 месяцев назад
great explanation.
@ThinkEcon
@ThinkEcon 5 месяцев назад
Thank you!
@chandamandona1940
@chandamandona1940 2 месяца назад
Thankyou so much
@ThinkEcon
@ThinkEcon Месяц назад
You’re very welcome!
@ssakaadrian3479
@ssakaadrian3479 Год назад
is it possible to calculate price elasticty of demand without change in price?
@ThinkEcon
@ThinkEcon Год назад
Short answer: no. Elasticity of demand measures one's responsiveness in their demand to a price change. If the price doesn't change, then there cannot be an elasticity.
@turfshaikh
@turfshaikh Год назад
Thanks sir
@ThinkEcon
@ThinkEcon Год назад
You’re very welcome!
@irenegutierrez5001
@irenegutierrez5001 8 месяцев назад
where ddi the 5 come from?
@phormulla
@phormulla 6 месяцев назад
Demand formula
@maxinemontenegro7357
@maxinemontenegro7357 Месяц назад
what does 5p means?
@ThinkEcon
@ThinkEcon Месяц назад
It means 5 times the price. It's part of the linear equation that represents the demand curve on a graph. Hope this helps!
@mohammadsalihu3149
@mohammadsalihu3149 Год назад
Thank you
@ThinkEcon
@ThinkEcon Год назад
You're welcome!
@mohammedrashid2906
@mohammedrashid2906 10 месяцев назад
Thank
@poppaslop8402
@poppaslop8402 8 месяцев назад
So what do I do if I'm only given one value for p
@poppaslop8402
@poppaslop8402 8 месяцев назад
Nvm I realized mine econ is calculus based
@kubraaziz9275
@kubraaziz9275 11 месяцев назад
If we have P=120 then how to find price elasticity demand
@ThinkEcon
@ThinkEcon 11 месяцев назад
Same steps as what's in the video, my friend!
@maxinemontenegro7357
@maxinemontenegro7357 Месяц назад
what does" P= " means?
@eyasuwendim-fo5mh
@eyasuwendim-fo5mh 5 месяцев назад
very good
@ThinkEcon
@ThinkEcon 5 месяцев назад
Thanks!
@kevinrojas3139
@kevinrojas3139 Год назад
Hu?
@JELSONMAUKI
@JELSONMAUKI 5 месяцев назад
Me I get elastic demand is 3/5. Why why why 😮😮😮😮😮😮😮😮😮😮😮😮😮😮😮. Hey GUYS MY ANSWER IS 3/5
@JELSONMAUKI
@JELSONMAUKI 5 месяцев назад
Me I get elastic demand is 3/5. Why why why 😮😮😮😮😮😮😮😮😮😮😮😮😮😮😮. Hey GUYS MY ANSWER IS 3/5
@JELSONMAUKI
@JELSONMAUKI 5 месяцев назад
Me I get elastic demand is 3/5. Why why why 😮😮😮😮😮😮😮😮😮😮😮😮😮😮😮. Hey GUYS MY ANSWER IS 3/5
@JELSONMAUKI
@JELSONMAUKI 5 месяцев назад
Me I get elastic demand is 3/5. Why why why 😮😮😮😮😮😮😮😮😮😮😮😮😮😮😮. Hey GUYS MY ANSWER IS 3/5
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