Download - ECO - Price Elasticty
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8/9/2019 ECO - Price Elasticty
1/37
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8/9/2019 ECO - Price Elasticty
2/37
Ig `olgljco ~vcgoc~e` xbix h`sovcf`s iolgspj`vs h`scv` igh {ceecgkg`ss xl ~i i ~vco`alv i s~`ocaco kllh lv s`vqco`'
Xb` x`vj h`jigh sckgcac`s xb` ifcecx lv xb`
{ceecgkg`ss xl fp i ~ivxcopeiv oljjlhcx ix ikcq`g ~lcgx la xcj`'
FQCJ_V >3*99
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8/9/2019 ECO - Price Elasticty
3/37
Ioolvhcgk xl F`gbij% Xb` h`jigh alv igxbcgk%ix i kcq`g ~vco`% cs xb` ijlpgx la cx% {bcob {cee f`flpkbx ~`v pgcx la xcj`% ix xbix ~vco`'
Ioolvhcgk xl Flff`v% F h`jigh {` j`ig xb`qivclps ypigxcxc`s la i kcq`g oljjlhcx lv s`vqco`{bcob olgspj`vs {lpeh fp cg lg` jivm`x cg ikcq`g ~`vclh la xcj` ix qivclps ~vco`s'
FQCJ_V >3*99
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8/9/2019 ECO - Price Elasticty
4/37
H@_CV@ XL FPS I
OLJJLHCXS
G@@H XL
^L__@__ I
OLJJLHCXS
[CEECGKG@__ XL
^PVOBI_@ XB@
OLJJLHCXS
IFCECXS XL^PVOBI_@ XB@
OLJJLHCXS
OLG_XCXP@
_H@JIGH
FQCJ_V >3*99
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8/9/2019 ECO - Price Elasticty
5/37
H@JIGH ALV IOLJJLHCXS
_BLPEH CGHCOIX@
Ypigxcxs h`jigh`h la
i oljjlhcxs
^vco` ix {bcob cx c
h`jigh`h
Xcj` ~`vclh lq`v {bcob
cx c h`jigh`h
Xb` jivm`x iv`i cg
{bcob cx c h`jigh`h
FQCJ_V >3*99
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8/9/2019 ECO - Price Elasticty
6/37
^vco` la xb` oljjlhcx "^r#
Cgolj` la xb` Olgspj`v "S#
Olgspj`vs xisx` igh ~v`a`v`go` "X#
^vco` la v`eix`h oljjlhcxc`s "^v#
Olgspj`v @r~`oxixclg "`r~`ox`h obigk` cg ~vco`#
Hcsxvcfpxclg la cgolj`
_ct` igh olj~lscxclg la ~l~peixclg
Lxb`v Aioxlvs `'k'% gixpvie oieijcxc`s
Yhr : a "^r% ^v %S % X% H#
FQCJ_V >3*99
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8/9/2019 ECO - Price Elasticty
7/37
H`jigh _ob`hpe` cs i xifpeiv ~v`s`gxixclg sbl{cgkhcaa`v`gx ypigxcxc`s la i oljjlhcx xbix {lpeh f`
h`jigh`h ix hcaa`v`gx ~vco`s'
Xb` h`jigh sob`hpe` sbl{s xb` ypigxcx la kllhs xbixi olgspj`v {lpeh f` {ceecgk igh ife` xl fp ix s~`ocaco
~vco`s pgh`v xb` `rcsxcgk ocvopjsxigo`s'
FQCJ_V >3*99
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8/9/2019 ECO - Price Elasticty
8/37
X~`s laH`jigh _ob`hpe`s
Cghcqchpie H`jigh _ob`hpe` Jivm`x H`jigh _ob`hpe`
_bl{s qivclps ypigxcxc`s la ioljjlhcx xbix {lpeh f`~pvobis`h ix hcaa`v`gx ~vco`s fi blps`bleh'
_bl{s xb` qivclps oljjlhcxc`s xbix{lpeh f` ~pvobis`h ix hcaa`v`gx~vco`s f iee xb` fp`vs la xbixoljjlhcx' Cx cs olj~ls`h la xb`
h`jigh sob`hpe`s la iee xb`cghcqchpies ~pvobiscgk xbixoljjlhcx'
FQCJ_V >3*99
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8/9/2019 ECO - Price Elasticty
9/37
Xb` h`jigh opvq` cs xb` kvi~b h`~coxcgk xb` v`eixclgsbc~f`x{``g xb` ~vco` la i o`vxicg oljjlhcx% igh xb` ijlpgxla cx xbix olgspj`vs iv` {ceecgk igh ife` xl ~pvobis` ixxbix kcq`g ~vco`'
Cx cs i kvi~bco v`~v`s`gxixclg la i h`jigh sob`hpe`' Xb`h`jigh opvq` alv iee olgspj`vs xlk`xb`v aleel{s avlj xb`h`jigh opvq` la `q`v cghcqchpie olgspj`v c'`' xb`
cghcqchpie h`jighs ix `iob ~vco` iv` ihh`h xlk`xb`v'
FQCJ_V >3*99
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8/9/2019 ECO - Price Elasticty
10/37
H`jigh _ob`hpe`
FQCJ_V >3*99
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8/9/2019 ECO - Price Elasticty
11/37
YPIGXCXC@_ H@JIGH@H FSCGHCQCHPIE OLG_PJ@V_ IXHCAA@V@GX ^VCO@_
CGHP_XVSH@JIGH :
FQCJ_V >3*99
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8/9/2019 ECO - Price Elasticty
12/37
FQCJ_V >3*99
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8/9/2019 ECO - Price Elasticty
13/37
Jlq`j`gx ielgk H`jigh Opvq` Qs' _bcax cg H`jigh Opvq`4
Obigk` cg ypigxcxs h`jigh`h [b`g ypigxcx h`jigh`h obigk`s"vcs` lv aiee# is i v`spex la obigk` cg ~vco` ielg`% lxb`v aioxlvs v`jicgcgkxb` sij`'
Olgxvioxclg,aiee cg ypigxcx h`jigh`h @rx`gsclg,Vcs` cg ypigxcx h`jigh`h
Xb`Xb` obigk`obigk` cc h`~cox`h,v`~v``gx`hh`~cox`h,v`~v``gx`h fsfs xb`xb` jlq`j`gxjlq`j`gx p~p~ lvlv hl{ghl{g lglg
ii kcq`gkcq`g h`jighh`jigh opvq`opvq`'' XbcXbc hl`hl` glxglx v`ypcv`v`ypcv` hvi{cgkhvi{cgk ii g`{g`{ h`jighh`jighopvq`opvq`''
FQCJ_V >3*99
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8/9/2019 ECO - Price Elasticty
14/37
Obigk` cg h`jigh [b`g xb` ijlpgx ~pvobis`h la i oljjlhcxvcs`s lv aiees f`oips` la xb` obigk` cg aioxlvs lxb`v xbig xb` ~vco` laxb` oljjlhcx'
Cgov`is` cg h`jighs
H`ov`is` cg h`jighs
XbcXbc v`ypcv`v`ypcv` hvi{cgkhvi{cgk iexlk`xb`viexlk`xb`v ii g`{g`{ h`jighh`jigh opvq`opvq`'' X{lX{l `rxv`j``rxv`j`
lala h`jighh`jigh iv`iv` q`vxcoieq`vxcoie !! blvctlgxieblvctlgxie h`jighh`jigh opvq`%opvq`% alvj`valvj`v
v`~v``gxv`~v``gx ~`va`oxes~`va`oxes cg eixcocg eixco h`jighh`jigh ighigh eixx`veixx`v h`jighh`jigh opvq`opvq` {bcob{bcob
bl{bl{ ~`va`oxes~`va`oxes `eixco`eixco h`jighh`jigh''
FQCJ_V >3*99
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8/9/2019 ECO - Price Elasticty
15/37
Cgolj`
V`eix`h kllhs Xisx`s
Gpjf`v la olgspj`vs
@r~`oxixclgs la apxpv` ~vco`s
FQCJ_V >3*99
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8/9/2019 ECO - Price Elasticty
16/37
@eixcocxs cs i j`ispv` la xb` v`s~lgscq`g`ssla lg` qivcife` xl iglxb`v'
Xb` kv`ix`v xb` `eisxcocx% xb` kv`ix`v xb`v`s~lgscq`g`ss'
FQCJ_V >3*99
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8/9/2019 ECO - Price Elasticty
17/37
^vco` `eisxcocx la h`jigh cs i j`ispv` la bl{ jpob xb` ypigxcxh`jigh`h la i kllh v`s~lghs xl i obigk` cg xb` ~vco` la xbix
kllh' Cx j`ispv`s xb` s`gscxcqcx la xb` ypigxcx h`jigh`h xl obigk`s
cg xb` ~vco`'
Xb` ~`vo`gxik` obigk` cg xb` ypigxcx h`jigh`h oips`h f ilg` ~`vo`gx obigk` cg xb` ~vco`'
FQCJ_V >3*99
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8/9/2019 ECO - Price Elasticty
18/37
Ioolvhcgk xl xb` ei{ la h`jigh% {b`g`q`v xb` ~vco` vcs`s% xb`ypigxcx h`jigh`h aiees' Xbp xb` ~vco` `eixcocxs la h`jighc ie{is g`kixcq`'
F`oips` cx cs ie{is g`kixcq`% `olgljcsxs pspiee sxix` xb`qiep` {cxblpx xb` sckg% c'`' xl kcq` cx j`igcgk'
[b`g ~vco` `eisxcocx cs f`x{``g t`vl igh *9 {` sih`jigh cs cg`eisxco'
[b`g ~vco` `eisxcocx cs f`x{``g *9 igh * cgacgcx% {` si
h`jigh cs `eisxco' [b`g ~vco` `eisxcocx cs *9% {` si h`jigh cs pgcx `eisxco'
FQCJ_V >3*99
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8/9/2019 ECO - Price Elasticty
19/37
H`jigh alv i ~vlhpox oig f` sich xl f` q`vcg`eisxco ca olgspj`vs {cee ~i iejlsx ig ~vco` alv
xb` ~vlhpox% igh q`v `eisxco ca olgspj`vs {cee lge~i i o`vxicg ~vco`% lv i givvl{ vigk` la ~vco`s% alvxb` ~vlhpox'
FQCJ_V >3*99
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8/9/2019 ECO - Price Elasticty
20/37
Xb` ~vco` `eisxcocx la h`jigh cs olj~px`h is xb` ~`vo`gxik`obigk` cg xb` ypigxcx h`jigh`h hcqch`h f xb` ~`vo`gxik` obigk`cg ~vco`'
Xb` ~vco` `eisxcocx la h`jigh% `h% cs 4*
^@H`h : ^`vo`gxik` Obigk` cg Yx H`jigh`h^`vo`gxik` Obigk` cg ^vco`
@k4 Ca xb` ypigxcx la xls sleh aiees f ? {b`g xb` ~vco` cs vics`h f 9% xb`g xb`
~vco` `eisxcocx la h`jigh cs ?,9 : ?'FQCJ_V >3*99
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8/9/2019 ECO - Price Elasticty
21/37
Qiep` J`igcgk
@h : > ^`va`oxes cg`eixco
*9 7 @h 7 > V`eixcq`es cg`eixco
@h : *9 Pgcx `eixco
7 @h 7 *9 V`eixcq`es `eixco
@h : ^`va`oxes `eixco
FQCJ_V >3*99
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8/9/2019 ECO - Price Elasticty
22/37
^`va`oxes @eixco H`jigh Opvq` Xb` h`jigh opvq` cs blvctlgxie% ig obigk` cg ~vco` oig igh
{cee oips` olgspj`vs xl obigk` xb`cv olgspj~xclg'
^`va`oxes Cg`eixco H`jigh Opvq`
Xb` h`jigh opvq` cs q`vxcoie% xb` ypigxcx h`jigh`h cs xlxieepgv`s~lgscq` xl xb` ~vco`' Obigk`s cg ~vco` biq` gl `aa`ox lgolgspj`v h`jigh'
F`oip` xb` ~vco` `eixcocxs la h`jigh j`ipv` bl{
jpob ypigxcxs h`jigh`h v`~lgh xl xb` ~vco`% cx coel`es v`eix`h xl xb` el~` la xb` h`jigh opvq`
FQCJ_V >3*99
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8/9/2019 ECO - Price Elasticty
23/37
FQCJ_V >3*99
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8/9/2019 ECO - Price Elasticty
24/37
FQCJ_V >3*99
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8/9/2019 ECO - Price Elasticty
25/37
FQCJ_V >3*99
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8/9/2019 ECO - Price Elasticty
26/37
FQCJ_V >3*99
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8/9/2019 ECO - Price Elasticty
27/37
FQCJ_V >3*99
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8/9/2019 ECO - Price Elasticty
28/37
@rij~e`4 Ca xb` ~vco` la ig co` ov`ij olg` cgov`is`s avlj(6'>> xl (6'6> igh xb` ijlpgx lp fp aiees avlj 9> xl 2olg`s% xb`g lpv `eisxcocx la h`jigh {lpeh f` oieopeix`h is4
FQCJ_V >3*99
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8/9/2019 ECO - Price Elasticty
29/37
Xb` jch~lcgx alvjpei cs ~v`a`vife` {b`g oieopeixcgk xb`~vco` `eisxcocx la h`jigh f`oips` cx kcq`s xb` sij`igs{`v v`kivhe`ss la xb` hcv`oxclg la xb` obigk`'
FQCJ_V >3*99
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8/9/2019 ECO - Price Elasticty
30/37
@rij~e`4 Ca xb` ~vco` la ig co` ov`ij olg` cgov`is`s avlj(6'>> xl (6'6> igh xb` ijlpgx lp fp aiees avlj 9> xl 2olg`s% xb`g lpv `eisxcocx la h`jigh pscgk xb` jch~lcgxalvjpei% {lpeh f` oieopeix`h is 4
FQCJ_V >3*99
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8/9/2019 ECO - Price Elasticty
31/37
Iqiceifcecx la spfsxcxpx`s
^lsx~lg`j`gx la olgspj~xclg
^vl~lvxclg la `r~`ghcxpv` "g``he`s4 cg`eisxco= XQ4 `eisxco#
Gixpv` la xb` oljjlhcx "g`o`sscx qs' eprpv#
Hcaa`v`gx ps`s la xb` oljjlhcx "~i~`v qs' cgm#
Xcj` ~`vclh "`eisxco cg xb` elgk x`vj#
Dlcgx h`jigh
FQCJ_V >3*99
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8/9/2019 ECO - Price Elasticty
32/37
Xlxie v`q`gp` cs xb` ijlpgx ~ich f fp`vs ighv`o`cq`h f s`ee`vs la i kllh'
Olj~px`h is xb` ~vco` la xb` kllh xcj`s xb`ypigxcx sleh
XV : ^ r Y
FQCJ_V >3*99
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8/9/2019 ECO - Price Elasticty
33/37
XV cgov`is`s is ~vco` cs cgov`is`h ca h`jigh cscg`eisxco4 ca`H 59 igh ^ xb`g XV
XV h`ov`is`s is ~vco` cs cgov`is`h ca h`jigh cs`eisxco4 ca`H 79 igh ^ xb`g XV
XV hl`s glx obigk` is ~vco` cs cgov`is`h cah`jigh cs pgcx*`eisxco4 ca`H :9 igh ^ xb`g XV
hl`s glx obigk`
FQCJ_V >3*99
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8/9/2019 ECO - Price Elasticty
34/37
^vco` Ypigxcxs V`q`gp`
(9>>> 6>> (6>>%>>>
(3>> 8>> (?1>%>>>
(2>> 1>> (82>%>>>
(;>> 2>> (01>%>>>
(1>> 9>>> (1>>%>>>
(0>> 96>> (1>>%>>>
(8>> 98>> (01>%>>>
(?>> 91>> (82>%>>>(6>> 92>> (?1>%>>>
(9>> 6>>> (6>>%>>>
FQCJ_V >3*99
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8/9/2019 ECO - Price Elasticty
35/37
^vco` `eisxcocx la h`jigh j`ispv`s bl{ jpob xb`ypigxcx h`jigh`h v`s~lghs xl obigk`s cg xb` ~vco`'
^vco` `eisxcocx la h`jigh cs oieopeix`h is xb` ~`vo`gxik`obigk` cg ypigxcx h`jigh`h hcqch`h f xb` ~`vo`gxik`obigk` cg ~vco`'
Ca i h`jigh opvq` cs `eisxco% xlxie v`q`gp` aiees {b`g xb`~vco` vcs`s'
Ca cx cs cg`eisxco% xlxie v`q`gp` vcs`s is xb` ~vco` vcs`s'
FQCJ_V >3*99
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8/9/2019 ECO - Price Elasticty
36/37
FQCJ_V >3*99
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8/9/2019 ECO - Price Elasticty
37/37
Ifbcd``x Q'
Ijcx K'Ijcx M'
Igce M'
Fifcxi _'
Obcvik '
Eirjig J' ^vcigmi M'
Qcgcxbi G'
T``x HK'
Kvlp~ / ?FQCJ_V >3*99