Elasticity and strange percent changes | Elasticity | Microeconomics | Khan Academy

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  • เผยแพร่เมื่อ 13 ธ.ค. 2024

ความคิดเห็น • 18

  • @khanacademy
    @khanacademy  13 ปีที่แล้ว +1

    @BurkeyAcademy good that people know that some econ classes expect it the other way. I will make an annotation

  • @shaheerkhan6815
    @shaheerkhan6815 7 ปีที่แล้ว +5

    Thanks so much for this Sal, to be honest i wondering the same thing on why my college professor had a different approach to this..

  • @BurkeyAcademy
    @BurkeyAcademy 13 ปีที่แล้ว

    @stretchyrubberbands You are correct about the limit idea but we can't always use point elasticities. We use which formula we have information for. Sometimes we ONLY know two prices and two quantities- think of yourself as a shop owner. Other times, we might estimate a demand line from lots of data, and calculate elasticity from the slope at one P and Q. There are many other uses and cases- see my "Demand elasticity back of envelope" video for a fun one.

  • @jl74826
    @jl74826 10 หลายเดือนก่อน

    Omg thank you for making this vid. I know this is 12 years ago but bro it’s helping me so much 🙏

  • @BurkeyAcademy
    @BurkeyAcademy 13 ปีที่แล้ว

    @fredwardNO1 As Sal said, "wrong" and "right" are just by convention. MOST econ books use the average as the base, what we call the "midpoint method". However, Besanko and Braeutigam's Microeconomics (for example) uses the "wrong" way. But, these authors come from more of an engineering perspective than a traditional economics perspective. The most important thing is: Know what your teacher/tester/employer expects! See my channel for more on elasticity.

  • @fredwardNO1
    @fredwardNO1 13 ปีที่แล้ว

    The "wrong" way is what I have been taught for my A-level economics test next week :/ I checked with the text book made this year and it says that the "wrong" was is actually the correct way

  •  12 ปีที่แล้ว

    In my case we usually had the actual equation of the Demand curve so we often used this formula as an alternative method: Ed=(P/Q)*(Q') (where Q' is the derivative of the formula cleared for Q)
    Is there a formula like this one that works as an alternative method for the "RIGHT" way?

  • @MrGiTag
    @MrGiTag 13 ปีที่แล้ว

    Hey Khan , upload some advanced function videos

  • @sheikhnewaj8995
    @sheikhnewaj8995 6 ปีที่แล้ว +1

    awesome

  • @mousemonkey6851
    @mousemonkey6851 6 ปีที่แล้ว +3

    but why do we need have same change from A to B and vice versa.
    wouldn't traditional approach make better sense.

    • @eveinglis9770
      @eveinglis9770 6 ปีที่แล้ว +1

      Hi! I was confused too but he explains it really well in this vid: th-cam.com/video/slP8XZ6Nq40/w-d-xo.html at about 6 minutes and onwards :)

    • @MyLegsAreKindaLong
      @MyLegsAreKindaLong 2 ปีที่แล้ว

      Yea i wonder too

  • @milkymilkway
    @milkymilkway 13 ปีที่แล้ว

    IS this for college Students?

  • @glavgad
    @glavgad 13 ปีที่แล้ว

    @Harrisam66
    When you learn synthesize ecstasy, you will need to find out a optimum way to sell it on a market, so that why you are here.
    Ha ha just kidding :) I am electrical engineering student and still find these videos very usefull, to understand a world around us.

  • @ThePythagorean
    @ThePythagorean 13 ปีที่แล้ว

    @Harrisam66 Reacting to Sal's awesomeness.