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ELASTISITAS

ELASTISITAS. Mikro Ekonomi. QUIZ.

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ELASTISITAS

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  1. ELASTISITAS MikroEkonomi

  2. QUIZ • Given that the price of an imported smartphone in February 2014 is Rp5.000.000 and the total market demand is 1.000 units. On March 2014, the price increases into Rp5.150.000 and so the total market demand decreases to 800 units. Determine the coefficient of elasticity and define whether the smartphone is elastic or inelastic .

  3. ELASTISITAS PERMINTAAN price elasticity of demand The ratio of the percentage of change in quantity demanded to the percentage of change in price; measures the responsiveness of quantity demanded to changes in price.

  4. ELASTISITAS PERMINTAAN • Perfectly inelastic demandDemandin which quantity demanded does not respond at all to a change in price. • Perfectly elastic demandDemand in which quantity drops to zero at the slightest increase in price. • A good way to remember the difference between the two perfect elasticitiesis

  5. ELASTISITAS PERMINTAAN • elastic demand A demand relationship in which the percentage change in quantity demanded is larger than the percentage change in price in absolute value (a demand elasticity with an absolute value greater than 1). • inelastic demandDemand that responds somewhat, but not a great deal, to changes in price. Inelastic demand always has a numerical value between zero and -1. • unitary elasticity A demand relationship in which the percentage change in quantity of a product demanded is the same as the percentage change in price in absolute value (a demand elasticity of -1).

  6. ELASTISITAS PERMINTAAN • midpoint formula A more precise way of calculating percentages using the value halfway between P1 and P2 for the base in calculating the percentage change in price and the value halfway between Q1 and Q2 as the base for calculating the percentage change in quantity demanded.

  7. ELASTISITAS PERMINTAAN • Using the point halfway between P1 and P2 as the base for calculating the percentage change in price, we get

  8. THE DETERMINANTS OF DEMAND ELASTICITY • Availability of Substitutes • Perhaps the most obvious factor affecting demand elasticity is the availability of substitutes. • The Importance of Being Unimportant • When an item represents a relatively small part of our total budget, we tend to pay little attention to its price. • The Time Dimension • The elasticity of demand in the short run may be very different from the elasticity of demand in the long run. In the longer run, demand is likely to become more elastic, or responsive, simply because households make adjustments over time and producers develop substitute goods.

  9. ELASTISITAS PERMINTAAN income elasticity of demand A measure of the responsiveness of demand to changes in income.

  10. ELASTISITAS PERMINTAAN cross-price elasticity of demand A measure of the response of the quantity of one good demanded to a change in the price of another good.

  11. ELASTISITAS PENAWARAN • elasticity of supply A measure of the response of quantity of a good supplied to a change in price of that good. Likely to be positive in output markets.

  12. ELASTISITAS PENAWARAN • elasticity of labor supply A measure of the response of labor supplied to a change in the price of labor.

  13. THE DETERMINANTS OF SUPPLY ELASTICITY • JenisProduk • Kurvapenawaranprodukpertanianumumnyainelastis, sebabprodusentidakmampumeresponscepatterhadapperubahanharga. • Kurvapenawaranprodukindustriumumnyaelastis, sebabmampumeresponscepatterhadapperubahanharga. • Sifatperubahanbiayaproduksi • Bersifatinelastisbilakenaikanpenawaranhanyadapatdilakukandenganmengeluarkanbiaya yang sangattinggi. • Bersifatelastisbilakenaikanpenawarandapatditambahdenganpengeluaranbiayatambahan yang tidakterlalubesar. • Jangkawaktu

  14. ELASTISITAS JANGKA PENDEK DAN JANGKA PANJANG Elasticities at a Delicatessen in the Short Run and Long Run The graph shows the expected relationship between long-run and short-run demand for Frank’s sandwiches. Notice if you raise prices above the current level, the expected quantity change read off the short-run curve is less than that from the long-run curve.

  15. effects of price changeson quantity demanded: APLIKASI KONSEP ELASTISITAS • In any market, P x Q is total revenue (TR) received by producers: • When price (P) declines, quantity demanded (QD) increases. The two factors, P and QD, move in opposite directions: TR = P x Qtotal revenue = price x quantity

  16. effect of price increase ona product with inelastic demand: effect of price increase ona product with elastic demand: APLIKASI KONSEP ELASTISITAS • Because total revenue is the product of P and Q, whether TR rises or falls in response to a price increase depends on which is bigger: the percentage increase in price or the percentage decrease in quantity demanded. • If the percentage decline in quantity demanded following a price increase is larger than the percentage increase in price, total revenue will fall.

  17. APLIKASI KONSEP ELASTISITAS • The opposite is true for a price cut. When demand is elastic, a cut in price increases total revenues: • effect of price cut on a product with elastic demand: • When demand is inelastic, a cut in price reduces total revenues: • effect of price cut on a product with inelastic demand:

  18. APLIKASI KONSEP ELASTISITAS Teori cobweb Menjelaskanmengenaihargaprodukpertanian yang menunjukkanfluktuasitertentudarimusimkemusim. Penyebabnyaadalahreaksi yang terlambat (time lag) dariprodusen (petani) terhadapharga.

  19. APLIKASI KONSEP ELASTISITAS Tax IncidenceA tax incidence is an economic term for the division of a tax burden between buyers and sellers. Tax incidence is related to the price elasticity of supply and demand.  When supply is more elastic than demand, the tax burden falls on the buyers. If demand is more elastic than supply, producers will bear the cost of the tax.

  20. REFERENCES • Case, Karl E., Ray C. Fair & Sharon M. Oster. 2013. Principles of Economics. Pearson Education Limited. • Rahardja, Pratamadan Mandala Manurung. 2010. TeoriEkonomiMikro: SuatuPengantar. Jakarta: LPFE-UI. • klc.kemenkeu.go.id. Diunduhpadatanggal 25 Maret 2019. • https://www.investopedia.com/terms/t/tax_incidence.asp. Diunduhpadatanggal 2 April 2019

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