Elasticity 1: Introduction, Price Elasticity of Demand (Full Lecture)
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- Опубликовано: 22 авг 2024
- Introduction to the concept of elasticities, how to interpret them, and discussion of many examples of Price Elasticity of Demand.
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I think in the case of elasticity in demand, we drop the negative sign because a demand curve always has a negative slope, so if we say that "demand goes down -x%" that's technically a double negative and would mathematically suggest a positive slope. If we say "demand goes down..." that implies that the number by which it goes down is necessarily negative.
Great video! Really understood the basics on Elasticity.
Such a great video...thank you sir
What of luxury goods?
Still really confused