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HOW TO Calculate the Cross-Price Elasticity of Demand | Economic Homework | Think Econ 

Think Econ
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In this video we explain how to use price and quantity to calculate Cross-Price Elasticity of Demand!
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29 сен 2024

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Комментарии : 21   
@ThinkEcon
@ThinkEcon 2 года назад
Check out our latest Community Poll: ru-vid.comcommunity to weigh in on which videos you'd like to see more of over the summer months! If you DEMAND it, we'll SUPPLY it!
@RutendoNaomi
@RutendoNaomi 2 года назад
Can I use arch method or midpoint method to calculate all elasticity
@ThinkEcon
@ThinkEcon 2 года назад
@@RutendoNaomi Since elasticity is just the ratio of percentage changes, yes, you can use arch method to solve, and the equations would actually remain the exact same! As for midpoint method, it's primarily used to solve for elasticity algebraically, and will also work every time, as long as you have all the necessary information (both old and new price and old and new quantity). Hope this helps! :)
@RutendoNaomi
@RutendoNaomi 2 года назад
Could you a video of how e-commerce has impacted market structures I have an exam this Tuesday am sure the topic will come about
@hotarusuki5501
@hotarusuki5501 Год назад
Thank you!
@FootyRevolutionHQ
@FootyRevolutionHQ 3 месяца назад
when a 6 minute vid helps me understand what was thought in a whole 2hr lecture. MiNDBLoWN!
@ThinkEcon
@ThinkEcon 3 месяца назад
Glad it was helpful!
@swapnilgade8923
@swapnilgade8923 9 месяцев назад
iguess (new value-old value)/avg value is the correct formula for cross elasticity
@myleengaspar3014
@myleengaspar3014 3 месяца назад
My professor also told us the denominator should be average
@sof185
@sof185 2 года назад
Love it!🙌🏼
@nebathabib2258
@nebathabib2258 3 месяца назад
❤❤
@GabrielBichiashvili
@GabrielBichiashvili 13 дней назад
This is helpful! Thank you very much !
@ThinkEcon
@ThinkEcon 13 дней назад
You're welcome!
@Ashenafi-k1n
@Ashenafi-k1n 7 месяцев назад
Thank you that's help a lot!!
@ThinkEcon
@ThinkEcon 3 месяца назад
I'm glad to hear it!
@osegosstudio196
@osegosstudio196 3 месяца назад
I know you're explaining about Cross Elasticity of demand But when we calculate Income Elasticity of demand, can we use Arc Elasticity Method?
@RutendoNaomi
@RutendoNaomi 2 года назад
Thank you
@LewisNgoma-i9h
@LewisNgoma-i9h 6 месяцев назад
Thank you
@ThinkEcon
@ThinkEcon 6 месяцев назад
You're welcome!
@imperia_alvarez
@imperia_alvarez 10 месяцев назад
God bless you❤
@mortalcord7906
@mortalcord7906 7 месяцев назад
💛
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