Economics Tutorial: Calculating Elasticity of Demand and Supply

Brief tutorial on elasticity of demand and supply, with several example problems in which I walk through elasticity calculation (example problems begin at 8:10)

[KdramaDhara]

People who weren't paying attention in class and came here for a one on one, gather for a selfie LMAO

[TheBlueRoom]

Astounding explanation you have given here. Really helped me understand what my teacher couldn't. You sire are the MVP!

[toya]

This video has been a very big help to me. Thank you for breaking it down and providing examples so that I can follow along.

[essie]

Thank you so much for this video. This has been a BIG HELP in my economics class. I’ve tried learning using the book, but it skips over steps as if I should know them already 🙄.

[JC-bpnm]

I had no option but to subscribe and comment an appreciation. Thanks a million for such an excellent teaching. God bless!

[aswj]

This video was awesome. My understanding improved significantly. Thanks for this lecture.

[rarekukufarm]

Awesome video for the calculation of elasticity. Big up Sir

[skinner]

Succinct and straight to the point. Thank you!

[EyasuWashe]

You are very nice and appreciated lecture thank you so much!

[jocelyn]

when some guy on YouTube teaches better than my actual teacher

[laurastamps]

Thank you, this was very clear and helpful.

[siraj]

you made it simple to understand! Thank you !

[kindyegizaw]

3) Suppose XYZ Dairy Firm at Sululta is selling flavored milk and Yogurt in packets of 150 ml. The dairy sells 2000 packets of flavored milk and 1000 packets of Yogurt every day. The former is priced at Birr 6 and the latter at Birr 4. A market survey estimates the cross-price elasticity (both ways) to be +1.8, and the own price elasticity of flavored milk to be -1.2. The dairy is contemplating a 10% reduction in the price of flavored milk. Should it go ahead with the price reduction or not? Show your workings

[siyasangasontsele]

Thats the best ai, i thank u am going to share with my group members by monday

[kingcucu]

Thanks for the lectures. I loved it. It helped

[musadlamini]

thanks, this is real helpfully, keep up the good work💯

[maddiecahliber]

sir. Can i just ask. How do I solve for the price elasticity of demand and supply given the supply schedule?

[rezasepdeya]

thank you for the explanation, it's magnificent :D

[sethhhh]

i still getting confused, when we use the basic formula and the mid point? how we know the difference in the question


help plsss im so confused

[ColinWilford]

would the consumer surplus not be at the top and the producer surplus at the bottom.