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January 30, 2018 at 10:39 am
Thank you for all your videos. I have a generale question ..Im just reading your note and watching your videos but Im worried if your notes are covering all chapter needed in exam? or I still need to read other books?
John Moffat says
January 30, 2018 at 3:33 pm
In future please ask this sort of question in the Ask the Tutor Forum, and not as a comment on a lecture 🙂
The lectures and notes cover more than enough to be able to pass the exam well. You do not really need a Study Text.
But what you must buy is a Revision Kit from one of the ACCA approved publishers. They contain lots of exam standard questions to practice, and practice is vital to passing the exam.
October 4, 2017 at 3:59 pm
Very valuable lecture, thank you sir.
One quick question, do we consider the computed elasticity as an absolute value?
October 5, 2017 at 7:57 am
September 24, 2017 at 5:51 am
Thank you sir for your hospitality towards giving us such a great lessons we couldn’t get anywhere else than Open tuition. We always appreciate the hard work you’re doing.
Here, i feel little bit confused and i’m looking your help sir. How do I determine or know if the value we get for PED is indicating an elastic demand or an inelastic demand?
September 24, 2017 at 9:26 am
There is no ‘cut-off’ point. All you can say is that the great the PED then the more elastic, and the lower the Bed then the less elastic.
August 31, 2017 at 7:11 am
Here it is established that the cost pu decreases with increased production. We all know the Variable element of cost would remain same on most occasions, other things being constant, So is it the fixed cost element that decreases in the pu cost that inturn effects the decrease in the overall cost pu?
August 31, 2017 at 10:25 am
Certainly when we are using the price demand equations as in the next lecture (which is more common in the exam) we always assume that the variable cost stays constant.
However, it certainly could change for several reasons (e.g. discounts on material for larger quantities, the application of the learning rate to the labour) and if you do get asked a tabular question then you use whatever units costs are given in the question – the reason for them changing (or not changing) is not relevant.
August 10, 2017 at 11:49 pm
Do you have any lectures on profit tables? If so where can i find it?
August 11, 2017 at 6:04 am
Profit tables are not a separate topic! They are needed in tabular pricing, and they are needed in devision making under uncertainty – there are lectures on both. The lectures are a complete free course and cover everything needed to be able to pass the exam well.
May 23, 2017 at 5:37 pm
Thank you so much sir, for the lectures. I have been preparing for exams with only your lectures and notes. How do we determine if the value we get for PED is indicating an elastic demand or an inelastic demand? Is there anything like a scale such as if the value is above a specific amount- it is elastic, and if it is below- it is inelastic?
May 24, 2017 at 6:57 am
No – there is no sort of ‘limit’. All we can really say is that it is more or less elastic when comparing things.
May 24, 2017 at 3:37 pm
ok thank you sir.
May 24, 2017 at 4:27 pm
You are welcome 🙂
Samuel Koroma says
April 6, 2017 at 1:32 pm
Thanks John. The presentation was straightforward with practical illustration. The interesting part is the effects on profit and MR and MC as selling price p.u. and cost p.u. changes.
According to the lecture notes, the optimal selling price is where MR = MC but this was not reflected in the table why? However, it was realistic enough to chose a selling price p.u. of $15 as this indicate a higher profit of $360.
April 6, 2017 at 3:44 pm
But I explain this in the lecture. In a tabular question we assume that the only possible selling prices are those given in the question.
April 7, 2017 at 12:11 pm
Acknowledged sir and thank you
April 7, 2017 at 5:37 pm
You are welcome
March 5, 2017 at 12:42 am
plz help 🙁 if we want to see the same exact question and solve using MR=a-b2Q and assume mr=mc then whats the mc value ?
March 5, 2017 at 9:04 am
You could not be asked do it using formulae because the marginal cost keeps changing.
February 25, 2017 at 3:35 pm
I really found the lecture was of help. BTW, sir, you are an adorable teacher to me, making the lessons so understandable. Truly appreciate your hard work. Many thanks.
February 25, 2017 at 5:29 pm
Thank you very much for your comment 🙂
February 25, 2017 at 7:41 am
A low PED is better for the business to make high profit than higher PED?
because low PED means that the SP is increasing by one percentage and there is no change or the demand remains same. it is correct ?
February 25, 2017 at 10:35 am
A low PED certainly means that an increase in selling price will result in only a small decrease in the demand. So there is the possibility that increasing the selling price will result in more profit.
February 25, 2017 at 11:47 am
Therefore a lower PED is better than higher PED?
February 4, 2017 at 6:05 am
I think they both meant dropping the price from $16 to $13 which i am also getting 32
February 4, 2017 at 9:40 am
For elasticity you change the price by just one increment, otherwise it was be a rather meaningless exercise and just be playing with numbers for the fun of it.
January 12, 2017 at 7:25 am
Example 3, current selling price is $16 per unit
I tried dropping to $13 instead of 15.5, i notice the elasticity of demand is -20. Is my answer correct?
January 12, 2017 at 10:07 am
Yes – it is correct. The elasticity is different at different price levels.
January 29, 2017 at 12:30 pm
I made it 32 when dropping to $13, am I doing something wrong?
January 29, 2017 at 4:23 pm
Actually I was wrong in my answer before (and you are wrong also) If you drop from 13.5 to 13, then the % change is 0.5/13.5 = 3.70% The demand change from 600 to 700, so the % change = 100/600 = 16.67%
So the elasticity = 16.67/3.70 = 4.5%
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