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 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 💖😇
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?
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.
![Calculating Elasticity of Demand [GIVEN A CHANGE IN PRICE] | Think Econ](/img/n.gif)
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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!!
I appreciate the kind words, and am so happy that you find the videos helpful. We can absolutely make some videos on these topics!
@@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 💖😇
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?
Please I need simple calculus in economics
Thank you for your service brother
Glad I could help!
Hey there! I enjoy your videos. That being said are you aware of any other channels that cover more advanced topics
What happen to the negative in 0.33/1?
What is the fourmal
is it possible to calculate price elasticty of demand without change in price?
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.
thank you
great explanation.
Thank you!
Thankyou so much
You’re very welcome!
What if its 1=1 ? is it inelastic still?
Great question! An elasticity of exactly 1 is something known as “unitary elasticity” and is neither elastic nor inelastic
Thanks sir
You’re very welcome!
where ddi the 5 come from?
Demand formula
Thank you
You're welcome!
Thank
what does 5p means?
It means 5 times the price. It's part of the linear equation that represents the demand curve on a graph. Hope this helps!
Where did the 5p come from
So what do I do if I'm only given one value for p
Nvm I realized mine econ is calculus based
If we have P=120 then how to find price elasticity demand
Same steps as what's in the video, my friend!
what does" P= " means?
very good
Thanks!
Hu?
Me I get elastic demand is 3/5. Why why why 😮😮😮😮😮😮😮😮😮😮😮😮😮😮😮. Hey GUYS MY ANSWER IS 3/5
Me I get elastic demand is 3/5. Why why why 😮😮😮😮😮😮😮😮😮😮😮😮😮😮😮. Hey GUYS MY ANSWER IS 3/5
Cz you have used the mid point method
Me I get elastic demand is 3/5. Why why why 😮😮😮😮😮😮😮😮😮😮😮😮😮😮😮. Hey GUYS MY ANSWER IS 3/5
Me I get elastic demand is 3/5. Why why why 😮😮😮😮😮😮😮😮😮😮😮😮😮😮😮. Hey GUYS MY ANSWER IS 3/5