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Hi i have a lil doubt… minus minus is plus …so how we got -2500 b …we supposed to add 16000 and 13500 and get -29500 instead
Minus minus is indeed a plus.
However, we are taking minus 16,000 plus 13,500.
-16000 + 13500 = -2500
(look again – it is minus 16000!)
Good job! Thank you Lecturer you are so loud and clear!
i love this. thank you
Conventional way of calculating the slope of the demand curve is Changes in Quantity/Changes in Price. Why does ACCA Text use Changes in Price/Changes in Quantity? However, I do understand a slope of a straight line is Changes in Y/Changes in X.
I don’t know why you say the conventional way of calculating the slope is change in demand/change in price.
For the price elasticity of demand, then it is demand / price, but the conventional price/demand equation is P = a – bQ for which the slope is b which is change in price/change in demand.
Thank you very useful lecture, any chance adding/providing video lecture on Example 3 Price elasticity? Its on the notes.
Very nicely explained…..:))
very very easy way to calculate the b ,a….?the formula in books is very hard to remember.
Good Explanation. Good Job!
What’s wrong? The video always break down in process? How to avoid this. Thanks!
Example 5 says reduction in price causes increase in demand rather than increase in price and decrease in demand. So shouldn’t the equation be 10-0.01Q??
@musema, Because we assume that the relationship is linear, a reduction in price causes an increase in demand, and an increase in price causes the same reduction in demand.
The equation cannot be P = 10 – 0.01Q, because that would mean that the current demand of 2000 would give a selling price of 10 – 20 = -10!!!
The lecture is correct.
As I see, “Price elasticity” topic is not mentioned in the videos to chapter 7. Or I missed it?
@natasya, You are right – it is not mentioned. I will re-record it shortly but until then you can find it in the course notes.
lovely. good job
good work from you guys.may God bless you
very well explained, great job!
thanks,i perfectly understood
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