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Elasticityofdemand

This slide is on Elasticity Of Demand. It Contains short information about elasticity of demand

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Elasticityofdemand

  1. 1. Presentation On ELASTICITY OF DEMAND
  2. 2. Prepared By Vaibhav Pradhan
  3. 3. Definition Of Price Elasticity Of Demand • The change in the quantity demanded of a product due to a change in its price is known as Price elasticity of demand. Thus, the sensitiveness or responsiveness of demand to change in price is as called elasticity of demand
  4. 4. Kinds Of Price Elasticity Of Demand 1) Perfectly elastic demand 2) Relatively elastic demand 3) Elasticity of demand equal to utility 4) Relatively inelastic demand 5) Perfectly inelastic demand Let Us See Some Views On Them
  5. 5. Perfectly elastic demand P R I C E y 0 x Perfectly elastic demand curve D D When the demand for a product changes –increases or decreases even when there is no change in price, it is known as perfect elastic demand.
  6. 6. Relatively elastic demand Relatively elastic demand curve P R I C E demand0 x y D D When the proportionate change in demand is more than the proportionate changes in price, it is known as relatively elastic demand.
  7. 7. Elasticity of demand equal to utility Elasticity of demand equal to utility curve y x0 demand P R I C E D D When the proportionate change in demand is equal to proportionate changes in price, it is known as unitary elastic demand
  8. 8. Relatively inelastic demand Relatively inelastic demand curve XO Y demand D D P R I C E When the proportionate change in demand is less than the proportionate changes in price, it is known as relatively inelastic demand
  9. 9. Perfectly inelastic demand demand D D Perfectly inelastic demand curve 0 Y X P R I C E When a change in price, howsover large, change no changes in quality demand, it is known as perfectly inelastic demand
  10. 10. ALL KINDS OF DEMAND CAN BE SHOWN IN ONE DIAGRAM AS FOLLOW D D1 D2 D3 D4 D5 Y X0 DEMAND P R I C E WHERE D1) Perfectly elastic demand D2)Relatively elastic demand D3)Elasticity of demand equal to utility D4)Relatively inelastic demand D5)Perfectly inelastic demand
  11. 11. Measurement Of Price Elasticity Of Demand There are main methods like 1. Percentage method or proportionate method 2. Total outlay method or total revenue method 3. Geometric method or point method 4. Arc elasticity of demand
  12. 12. Thanking You All
  13. 13. ******THEEND******

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