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Price elasticity, income elasticity and cross elasticities of demand

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Dominic C. 5.0 (3)

University of Edinburgh - MA Economics and Politics

Available for one-off or weekly lessons to prepare for upcoming exams.

£40 / hour
    Approaching end of year exams? Keen to recap everything you learnt in Year 12? Check out our 2-day online AS-level Economics Recap Course on 25-26th May. Book now!

    The videos below are from the YouTube channel Enhance Tuition. Subscribe to keep up to date with the latest videos.

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    Price elasticity of demand – definition, formula and simple calculation

    This video gives the definition, formula and simple calculation of price elasticity of demand.

    Factors affecting price elasticity of demand (PED)

    This video looks at factors that affect price elasticity of demand.

    Graphing price elasticity of demand

    This video shows how to graph the various elasticities of demand: perfectly inelastic demand, inelastic demand, elastic demand, perfectly elastic demand and unit elasticity.

    Cross elasticity of demand (XED)

    This video discusses the meaning of cross elasticity of demand, how to calculate XED and how to interpret XED figures.

    Income elasticity of demand (YED)

    This video discusses how to calculate income elasticity of demand (YED) and how to interpret YED figures.

    Business relevance of elasticity estimates

    This video discusses how to analyse elasticity estimates for businesses and how to evaluate the significance of elasticity estimates.

    Total revenue and PED

    This video discusses how to calculate total revenue and how elasticity impacts changes in total revenue.

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