This document discusses the concept of elasticity in microeconomics. It defines elasticity as measuring the responsiveness of a variable to changes in other factors. It then discusses different types of elasticity including price elasticity of demand and supply, income elasticity, and cross price elasticity. Formulas for calculating each type are provided. The document also discusses how elasticity is used in applications such as taxation and subsidies and their impact on equilibrium.
Presentation on Production Possibility Frontier Curve
Contents - Characteristics of Production Possibility Frontier Curve, Efficiency and Opportunity cost using production possibility frontier Curve
Created by Rokhsana Rahim Rumki
Department of Biotechnology and Genetic Engineering
Jahangirnagar University, Bangladesh
Definition of PED
Calculation of PED
Determinants of PED
PED and total spending on a product/revenue
Significance of PED
https://courses.lumenlearning.com/boundless-economics/chapter/price-elasticity-of-demand/#:~:text=The%20price%20elasticity%20of%20demand%20(PED)%20is%20calculated%20by%20dividing,the%20percentage%20change%20in%20price.
https://www.economicshelp.org/blog/195/economics/calculating-price-elasticity-of-demand/
https://www.tutor2u.net/business/reference/price-elasticity-of-demand
A revision presentation on the economics of producer and consumer subsidies as forms of government intervention in markets. There are a number of up to date examples highlighted together with an evaluation of the benefits and costs of subsidy payments. This is designed as a revision aid for unit 1 students taking their microeconomics papers.
Presentation on Production Possibility Frontier Curve
Contents - Characteristics of Production Possibility Frontier Curve, Efficiency and Opportunity cost using production possibility frontier Curve
Created by Rokhsana Rahim Rumki
Department of Biotechnology and Genetic Engineering
Jahangirnagar University, Bangladesh
Definition of PED
Calculation of PED
Determinants of PED
PED and total spending on a product/revenue
Significance of PED
https://courses.lumenlearning.com/boundless-economics/chapter/price-elasticity-of-demand/#:~:text=The%20price%20elasticity%20of%20demand%20(PED)%20is%20calculated%20by%20dividing,the%20percentage%20change%20in%20price.
https://www.economicshelp.org/blog/195/economics/calculating-price-elasticity-of-demand/
https://www.tutor2u.net/business/reference/price-elasticity-of-demand
A revision presentation on the economics of producer and consumer subsidies as forms of government intervention in markets. There are a number of up to date examples highlighted together with an evaluation of the benefits and costs of subsidy payments. This is designed as a revision aid for unit 1 students taking their microeconomics papers.
Tutor2u - Government Intervention – Subsidiestutor2u
Exam questions involving drawing subsidy diagrams are typically found demanding by many students so please remember to revise this area of the course properly and get in lots of practise for this type of government intervention. If your analysis is accurate, you will frequently be given plenty of scope to critically evaluate the role of subsidies particularly when it comes to addressing different types of market failure. Strong evaluation understands the importance of elasticity in assessing the impact and also considers alternatives to subsidies by the government.