EQUATION 3.1 – 3.2 Price elasticity of demand(eP)
FIGURE 3.1 Price Elasticity and the Movement Along a Demand Curve
TABLE 3.1 Values of Price Elasticity of Demand Coefficients
FIGURE 3.2 Elastic Demand and Total Revenue
FIGURE 3.3 Inelastic Demand and Total Revenue
EQUATION 3.3 Arc Price Elasticity of Demand
EQUATION 3.4 Point Price Elasticity of Demand
EQUATION 3.5 Linear Demand Function
TABLE 3.2 Numerical Example of Demand, Total Revenue, Average Revenue, and Marginal Revenue Functions
TABLE 3.3 Numerical Values for the Functional Relationships in Table 3.2
TABLE 3.4 Arc Price Elasticity Versus Point Price Elasticity Calculations (Data from Tables 3.2 and 3.3)
FIGURE 3.4 Demand and Marginal Revenue Functions
FIGURE 3.5 The Total Revenue Function
TABLE 3.5 Relationships for a Linear Downward Sloping Demand Curve
FIGURE 3.6 Vertical Demand Curve
FIGURE 3.7 Horizontal Demand Curve
TABLE 3.6 Income Elasticity and Cross-Price Elasticity of Demand Coefficients
TABLE 3.7 Estimates of Demand Elasticities
TABLE 3.7 Estimates of Demand Elasticities
TABLE 3.8 Elasticity Coefficients from Marketing Literature
FIGURE 3.A1 Derivation of a Consumer Indifference Curve
FIGURE 3.A2 Illustration of Consumer Indifference Curves
FIGURE 3.A3 A Convex Indifference Curve
EQUATION 3.A1 The Budget Constraint
FIGURE 3.A4 The Budget Line
FIGURE 3.A5 Change (Increase) in Income (Prices Constant)
FIGURE 3.A6 Change (Decrease) in the Price of Good X (All Else Constant)
FIGURE 3.A7 The Consumer Maximization Problem
FIGURE 3.A8 Consumer Equilibrium with a Change in Income (Two Normal Goods)
FIGURE 3.A9 Consumer Equilibrium with a Change in Income (One Normal and One Inferior Good)
FIGURE 3.A10 Consumer Equilibrium with a Decrease in the Price of Good X (Inelastic Demand for X)
FIGURE 3.A11 Consumer Equilibrium with a Decrease in the Price of Good X (Elastic Demand for X)