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2.5 Elasticity of demand

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First exams 2022 » Unit 2: Microeconomics » 2.5 Elasticity of demand

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Directly related questions

18M.1.SL.TZ2.1a: Explain how the price elasticity of demand for a good might be affected by the number and...
18M.1.SL.TZ2.1b:
Examine the significance of price elasticity of demand for the decision making of firms and government.
19M.1.HL.TZ1.2a:
Explain why price elasticity of demand varies along the length of a straight-line demand curve.
19M.1.HL.TZ1.2b:
Examine the significance of price elasticity of demand for the decision-making of firms and governments.
19N.1.SL.TZ0.1a: Explain two reasons why the demand for manufactured goods might be price elastic.
19N.1.HL.TZ0.1a: Explain two reasons why the demand for primary commodities might be price inelastic.
19N.1.HL.TZ0.1b:
Discuss the significance of price elasticity of demand (PED) for a government imposing an indirect tax on a good.
20N.1.HL.TZ0.1a:
Explain how knowledge of price elasticity of demand could be used by a firm that is considering changing the price of its product.
21M.1.SL.TZ2.1a:
Explain why the price elasticity of demand for primary commodities is often relatively low while the price elasticity of demand for manufactured goods is often relatively high.
21M.3.HL.TZ0.1d: The demand for Good Z is income inelastic. Define the term income inelastic demand.
21M.3.HL.TZ0.1e:
Country D is an economically less developed country that specializes in the production of primary products.

Explain two implications for Country D of a relatively low income elasticity of demand for its primary products.
21N.1.SL.TZ0.1a:
Explain how a decrease in income might affect the demand for normal goods and the demand for inferior goods.
21N.3.HL.TZ0.3g:
Calculate the price elasticity of demand for chia seeds in Nofiberland following the imposition of the tariff.
22M.3.HL.TZ0.1a.iii:
Using the information in Figure 1, calculate the price elasticity of demand for gold in Burundi when price increases from US$1500 per oz to US$1800 per oz.

Sub sections and their related questions

2.5.1 Concept of elasticity

18M.1.SL.TZ2.1b:
Examine the significance of price elasticity of demand for the decision making of firms and government.
21M.3.HL.TZ0.1d: The demand for Good Z is income inelastic. Define the term income inelastic demand.

2.5.2 Price elasticity of demand (PED)

2.5.3 Income elasticity of demand (YED)