Post on 19-Dec-2015
transcript
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PowerPoint Exhibit Slides to Accompany
Principles of EconomicsFred M. Gottheil
Chapter 4
ELASTICITY
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Chapter 4 Elasticity© 2001 South-Western
EXHIBIT 1A DEMAND RESPONSE TO PRICE CHANGE
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Chapter 4 Elasticity© 2001 South-Western
EXHIBIT 1B DEMAND RESPONSE TO PRICE CHANGE
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Chapter 4 Elasticity© 2001 South-Western
EXHIBIT 1C DEMAND RESPONSE TO PRICE CHANGE
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Chapter 4 Elasticity© 2001 South-Western
EXHIBIT 2 MARKET DEMAND FOR COCA-COLA AND SPARK PLUGS
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Chapter 4 Elasticity© 2001 South-Western
EXHIBIT 3APRICE ELASTICITIES OF DEMAND FOR FOOTBALL TICKETS AND MILK
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Chapter 4 Elasticity© 2001 South-Western
EXHIBIT 3BPRICE ELASTICITIES OF DEMAND FOR FOOTBALL TICKETS AND MILK
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Chapter 4 Elasticity© 2001 South-Western
EXHIBIT 4 ELASTICITIES, PRICE, AND REVENUE CHANGES
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Chapter 4 Elasticity© 2001 South-Western
EXHIBIT 5 PRICE ELASTICITIES OF DEMAND FOR SELECTED GOODS
Source: Edward Mansfield, Microeconomics (New York: W. W. Norton, 1997); Robert Hall and Mark Lieberman, Economics (Cincinnati: South-Western College Publishing, 1998); Gary Brester and Michael Wohlgenant, “Estimating Interrelated Demands for Meat Using New Measures for Ground and Table Cut Beef,” American Journal of Agricultural Economics (November 1991); and Heinz Kohler, Intermediate Economics: Theory and Applications (new York: Scott, Foresman, 1986).
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Chapter 4 Elasticity© 2001 South-Western
EXHIBIT 6 PRICE ELASTICITIES OF DEMAND IN THE SHORT RUN AND LONG RUN
Source: H. S. Houthakker and Lester Taylor, Consumer Demand in the United States, 1929–1970 (Cambridge, Mass.: Harvard University Press, 1970); Richard Voith, “The Long-Run Elasticity of Demand for Commuter Rail Transportation,” Journal of Urban Economics (November 1991); and James Griffen and Henry Steele, Energy Economics and Policy (New York: Academic Press, 1980).
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Chapter 4 Elasticity© 2001 South-Western
EXHIBIT 7 CROSS ELASTICITIES BETWEEN SUBSTITUTES
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Chapter 4 Elasticity© 2001 South-Western
EXHIBIT 8 CROSS ELASTICITIES OF DEMAND FOR SUBSTITUTE GOODS
Source: Edwin Mansfield, Microeconomics (New York: W. W. Norton, 1997); F. Gasmi, J. J. Laffont, and Q. Vuong, “Econometric Analysis of Collusive Behavior in a Soft Drink Market,” Journal of Economics and Management Strategy (Summer 1992); and Gary Brester and Michael Wohlgenant, “Estimating Interrelated Demands for Meats Using New Measures for Ground and Table Cut Beef,” American Journal of Agricultural Economics (November 1991).
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Chapter 4 Elasticity© 2001 South-Western
EXHIBIT 9A CROSS ELASTICITIES BETWEEN COMPLEMENTS
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Chapter 4 Elasticity© 2001 South-Western
EXHIBIT 9B CROSS ELASTICITIES BETWEEN COMPLEMENTS
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Chapter 4 Elasticity© 2001 South-Western
EXHIBIT 10 AIR TRAVEL
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Chapter 4 Elasticity© 2001 South-Western
EXHIBIT 11 INCOME ELASTICITIES OF DEMAND
Source: Edwin Mansfield, Microeconomics (New York: W. W. Norton, 1997); and F. Chalemaker, “Rational Addictive Behavior and Cigarette Smoking,” Journal of Political Economy (August 1991).
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Chapter 4 Elasticity© 2001 South-Western
EXHIBIT 12 COMPARISON OF INCOME ELASTICITIES OF DEMAND FOR FOOD, BY COUNTRY
Source: Ching-Fun and James Peale Jr., “Income and Price Elasticities,” in Advances in Econometrics Supplement, ed. Henri Thell (Greenwich, Conn.: JAI Press, 1989); and Y. Wu, E. Li, and S. N. Samuel, “Food Consumption in Urban China: An Empirical Analysis,” Applied Economics (June 1995).
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Chapter 4 Elasticity© 2001 South-Western
EXHIBIT 13A ELASTICITIES OF SUPPLY
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Chapter 4 Elasticity© 2001 South-Western
EXHIBIT 13B ELASTICITIES OF SUPPLY
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Chapter 4 Elasticity© 2001 South-Western
EXHIBIT 13C ELASTICITIES OF SUPPLY
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Chapter 4 Elasticity© 2001 South-Western
EXHIBIT 14A WHAT GETS TAXED?
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Chapter 4 Elasticity© 2001 South-Western
EXHIBIT 14B WHAT GETS TAXED?