The elasticity of income to price p is

(dR/DP)*(p/R)=[Q+p *(dQ/DP)]*( 1/Q)= 1+(dQ/DP)*(p/Q)

The second half of the above formula is the elasticity of demand to price p, that is, (dQ/dp)*(p/Q)=0.2.

So the elasticity of income to price p is (dR/dp)*(p/R)= 1+0.2 = 0.3.

Marginal income is:

dR/DP = 0.3/(p/R)= 0.3/(p/pQ)= 0.3Q

When the demand is Q= 10000 pieces, dR/dp = 3000.

The economic significance of marginal revenue is that the price increase of 1 yuan will increase the product revenue of 3000 yuan.

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The difference between elastic demand and inelastic demand

1 has a different relationship with the price. Elastic demand means that people's demand for a commodity will be greatly affected by price changes; Inelastic demand means that people's demand for a commodity will not be greatly affected by price changes. 2. Commodities with different types and high elastic demand are generally luxury goods or non-necessities such as necklaces, handbags and big meals. Most commodities with inelastic demand are necessities of life, such as salt and clothes. 3. Considering the purchase factor, when the prices of commodities with different elastic demands rise, people still need to buy them to meet their survival needs. It can be said that such goods are not so "sensitive" to price changes; For goods with inelastic demand, people don't live on this kind of "icing on the cake" goods, so the price is an important condition for people to consider buying or not. Extended data:

Rigid demand is the demand for goods or services whose price or income change percentage is greater than the demand change percentage caused by it. Generally speaking, people's consumption or demand for daily necessities, such as rice, vegetables, salt, etc. , usually relatively stable. Therefore, the demand for such commodities is less affected by changes in prices and incomes. The demand for this commodity is called inelastic demand. The measure of inelastic demand is demand elasticity coefficient. The elasticity coefficient of goods with inelastic demand is less than 1. For goods with inelastic demand, the sales revenue changes in the same direction as the price: when the price increases, the income increases, and when the price decreases, the income decreases. Inelastic demand is a special type of demand elasticity theory. Baidu Encyclopedia-Flexible Demand

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What is the difference between high elastic demand and demand elasticity?

If the demand function is Q=Q(p), the revenue function is R(p)= p*Q = pQ(p), and the elasticity of revenue to price p is (dr/DP) * (p/r) = [q+p * (dq/DP)] * (1/q) = That is, (dQ/dp)*(p/Q)=0.2, so the elasticity of income to price p is (dR/dp)*(p/R)= 1+0.2 = 0.3, and the marginal income is: dr/DP = 3000/(p/r) = 0.3.

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The difference between demand elasticity and demand price elasticity

Demand elasticity includes demand price elasticity, demand cross elasticity, income elasticity of demand and demand expectation elasticity. See the relationship between these two concepts? o(∩_∩)o

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High-number economic problem, demand elasticity

If the demand function is Q=Q(p), the revenue function is R(p)= p*Q = pQ(p), and the elasticity of revenue to price p is (dr/DP) * (p/r) = [q+p * (dq/DP)] * (1/q) = That is, (dQ/dp)*(p/Q)=0.2, so the elasticity of income to price p is (dR/dp)*(p/R)= 1+0.2 = 0.3, and the marginal income is: dr/DP = 3000/(p/r) = 0.3.

2 browse 3112017-02-20.

Is demand elasticity and demand price elasticity the same concept? If not, what's the difference?

It's the same concept. They are inclusive. Demand elasticity includes demand price elasticity, demand cross elasticity, income elasticity of demand and demand expectation elasticity. The price elasticity of demand is actually negative; That is to say, due to the law of demand, prices and demand change in reverse, prices fall and demand increases; As the price rises, the demand decreases. Therefore, the relative changes of demand and price are opposite in sign, so the elasticity coefficient of demand price is always negative. Because its sign is always the same, for the sake of simplicity, it is customary to regard demand as a positive number, because we know it is a negative number. Extended data:

The different uses of any commodity have a certain order. If the price of a commodity rises, consumers will reduce their demand and use their purchasing power for important purposes, so the number of purchases will decrease, and as the price decreases, the number of purchases will increase. Time and demand price elasticity are very important. The shorter the time, the smaller the elasticity of commodity demand; The longer the time, the greater the elasticity of demand for goods. This is because for a long time, consumers are more likely to find substitutes, and the more substitutes, the greater the elasticity of demand. The relationship between demand price elasticity and total sales revenue. The demand price elasticity coefficient is closely related to the seller's income, which makes the demand price elasticity theory more practical. Baidu encyclopedia-price elasticity of demand

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Exception is not meta 1.

Isn't it right

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