1. Suppose the price elasticity of demand for oranges is -1.8. If a fall frost destroys one-third of the nation's orange crop, how will that affect total expenditures on oranges, all other things unchanged?
ANS: total expenditures will fall
2. The price elasticity of demand for gasoline in the long run has been estimated to be -1.5. If an extended war in the Middle-East caused the price of oil (from which gasoline is made) to increase and remain high for a decade, how would that affect total expenditures on gasoline in the long run, all other things unchanged?
ANS: total expenditures will fall
總支出與彈性有何關係?點解兩條都係下降?
總支出與彈性關係
2013-06-06 3:46 pm
回答 (1)
2013-06-09 5:33 pm
✔ 最佳答案
Firstyou have to know that the elasticity of demand is a measure of the responsiveness of the quantity demanded of a good tothe change of its price.兩道題目都是極其相似的－也是彈性需求，所以當價格跌少少時，需求量便會跌更多。另外兩道題目亦是供應下降（橙的產量下降／汽油原產地發生戰亂），所以我兩道題目便一次過作答了。
總支出是等於「價格×交易量」，價格彈性正是這兩者的關係。當價格是富有彈性的，價格的轉變就會不及交易量的轉變，反亦然。之後你只需看看整體效果是升還是跌就可以了。
圖片參考：http://i1295.photobucket.com/albums/b635/ToineCheung/01_zps515d0150.jpg
Giventhat the price elasticity of demand for oranges (gasoline) is -1.8(-1.5), which is elasticdemand. Also, as the fall frost destroysone-third of the nation's orange crop (the extended war in theMiddle-East), the supply decreased.Hence the price will increase from P1 to P2 while the quantitytransacted will decrease from Q1 to Q2.
Asit is elastic demand, the percentagedecrease in quantity is greaterthan the percentageincreasein the price. Hence, the totalexpenditures, which is P×Q, will decrease.
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