Y1 42) Elasticity Along The Demand Curve

Elasticity Along The Demand Curve. A video covering why elasticity varies along a linear demand curve.

Instagram: @econplusdal

[hanbitlee]

You just helped me solve the mystery in 8 minutes.

[dariogiancristofano]

Very natural gift for teaching and very clear concepts. Really glad to have come across this great teacher

[asstardust]

;): 1:19
Mathematical Proof: 1:30
Simple Explanation (for essay): 6:10
PED and TR: 6:58

[bilalt]

Very clear explanation. My teacher went over it in class but didnt quite understand it. Thank you very much

[desreeisibor]

That was amazing!!! Finally grasped this idea. Thanks so much!

[chetanyasingh]

“You queue before you pee!”

- EconplusDal, 2017

[joepage]

online learning is hell and this just saved my ass! Thanks!

[Scrungge]

I'm guessing the intuitive explanation to this is: even if gasoline (inelastic product) is unreasonably priced no one will want to buy it eventhough it is still a very desired product. Thus when the price is lowered a little bit, a very large amount of people will immediately queue up at the gas station since it's still a necessity product, and as the price lowers bit by bit, less and less people will queue up since the majority already had their fill. (correct me if I'm wrong).

[cameronnetherton]

"anything divided by zero is infinity" a mathematician just had an aneurysm somewhere

[tracywwweeeeeee]

Thanku much for this tutorial !! This is sooo helpful !!

[SaraandColinRoberts]

What I don't understand is if every demand curve is half elastic and half inelastic. Why do we then say that a steep demand curve is inelastic and a gentle slope is elastic. Wont the steep demand curve be half elastic and half inelastic as explained above and the same for a gentle slope. Thanks Sara

[laum]

Thank you, it's well explained and presented!

[yiruiliu]

very good video! but I have only one question that is why the change in Qd from 10 to 9 is infinitive

[pushpendrabansal]

@EconplusDal - Can we say that value of slope of a demand curve will be affected by the factors affecting PED?

Please, if you can answer this question.

[oaqutc]

Awesome video, but I still have one question: If we were to look at the change from a $10 to $5 based on the graph in the video, isn't the price elasticity from that scale also perfectly elastic? (%ΔD = 5 - 0 / 0 = ∞ )

[drenmatoshi]

Hi Sir,
Another amazing video as usual. How would I use this as an evaluation point as I am finding it hard to do so?
Thanks

[THESKILLZZ]

Just a quick question, does this apply to EVERY demand curve? Even for the extreme cases of very elastic and very inelastic?

[hosoonkang]

1:57 uhhh doesn't anything divided by 0 give math error

[vyaanmilanshah]

We know now why its more elastic/inelastic, but why is the model shaped in that way?

[nijhumsardar]

But why does higher price have elastic demand and lower price have inelastic demand