1. Introduction to Managerial Economics -- Prof. V. Chandra Sekhara Rao  What is “Economics”?  What is ‘ Micro and Macro economics?  What is Managerial Economics?…

Slide 1C HAPTER Elasticity of Demand and Supply price elasticities of demand and supply, income and cross elasticities of demand, and using elasticity to forecast the impact…

Slide 1Elasticity CHAPTER 4 Slide 2 After studying this chapter you will be able to Define, calculate, and explain the factors that influence the price elasticity of demand…

Slide 1Theoretical foundation for demand analysis Consumers equilibrium : Cardinal Utility: Law of Diminishing marginal Utility Law of equimarginal Principle Consumers equilibrium…

Slide 1Elasticity 04 McGraw-Hill/Irwin Copyright © 2012 by The McGraw-Hill Companies, Inc. All rights reserved. Slide 2 Price Elasticity of Demand Measures buyers responsiveness…

Slide 1Harcourt, Inc. items and derived items copyright © 2001 by Harcourt, Inc. Elasticity... u Demand elasticity is a measure of how much buyers respond to changes price,…

Slide 1THEORY OF DEMAND Slide 2 INTRODUCTION How much to produce and what price to charge? Factors determining demand for a product. Explores the relationship between price…

Slide 1 Slide 2 EYE ONS What do you do when the price of gasoline rises? Do you keep filling your tank, groan a bit, and cut back on something less essential so that you…

1. Introduction to Managerial Economics -- Prof. V. Chandra Sekhara Rao  What is “Economics”?  What is ‘ Micro and Macro economics?  What is Managerial Economics?…

1. Chapter 5 ECON4 William A. McEachernElasticity ofDemand andSupply© 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or…