when this 11min video helps me understand my entire 2hr lecture, MiNdBlOwN!!!
@jeddslade35402 жыл бұрын
you do this in uni?????
@esthernaua2 жыл бұрын
@@jeddslade3540 yeh boi
@FootyRevolutionHQ2 ай бұрын
@@esthernaua country?
@dangiscongrataway23655 жыл бұрын
Why do you divide by the average, in class we divide by initial value
@hashamwasi3114 жыл бұрын
Ifkr
@sebbelito29754 жыл бұрын
Same here! I am confused by the average...
@haslan48854 жыл бұрын
It's because the %change from 1000 to 1050 is not the same as the %change from 1050 to 1000, but the %change from 1000 to 1025 is the same as the %change from 1050 to 1025 (i.e., ±2,4%). It's called "midpoint" or something like that.
@cliftonaurelius30604 жыл бұрын
@@sebbelito2975 We divide by the average because depending on the price going up or down by the same amount, we will get different percentage of change. For example, a price increase from $2 to $4 will see a 100% change. But a similar price decrease from $4 to $2 will see a 50% change. In order to counter this problem, we divide by the average. So now, by dividing the average, a price increase from $2 to $4 will see a 66% change and the price decrease from $4 to $2 will also see a 66% change. This is because now, you divide by the average for both increase and decrease in price. Hope this helps.
@bhumikachoudary37633 жыл бұрын
Because, Here we are using the MID POINT METHOD. which is a better way to calculate percentage changes and elasticities.
@khanacademy12 жыл бұрын
@pengok1995 So that we get the same elasticity whether we move from A to B or B to A. You can think of it as the "average" elasticity between points A and B. You are correct about how you would calculate percentages generally.
@WestSideRida4207 жыл бұрын
A1 loses and A2 wins. Keep it up Kahn. You're great. I'm learning more here than in my own university. They actually use your videos in some assignments. Pretty sad that I can come here and learn the same thing in a better way than what my university is teaching. Like I said, they even use your lectures in assignments. What the hell am I paying for? Roughly $18,000 for a piece of paper that says I learned your material.
@davidepamukcu9032 жыл бұрын
facts
@hywsvlorxmp13210 ай бұрын
hope youre doing well now
@innanninna10 жыл бұрын
your videos are the easiest to understand here on youtube. thank you. you are helping a lot o students with their exams including me
@graylobo13310 жыл бұрын
Best treadmill work out videos, i discovered KA over 4 years ago when he only had a few videos
@Alanyutwhckbsbc7 жыл бұрын
clear ideas, nice and clear handwriting. I have to say that your videos are really helpful to first-year econ students.
@santanademelo6476 жыл бұрын
Incredibly helpful video. Thank You
@ss93923 жыл бұрын
Thanks for explaining! Really grateful❤🙌
@arathigal11 жыл бұрын
Hey great videos! I was just wondering if you could do videos on factors that affect elasticity. For PED, PES and CED. Thanks, it'd help a lot (:
@gabyp245311 жыл бұрын
hey khanacademy, quick question so if you had perfect substitutes the CED would be infinity, that is, the CED of substitutes approaches infinity. My question is: "Does the CED of complements approach negative infinity as well?
@huero003311 жыл бұрын
All your videos are really good and clear!!!! Thanks for your time...
@ysa1544 жыл бұрын
This channel is better than my prof.
@filipmtl612 жыл бұрын
Thank you!!! i learned more from you than in my school. :D
@DjSeanTacos8 жыл бұрын
What courses do Khan Academy not cover?
@egecav7 жыл бұрын
does*
@asdksaopfkpods6 жыл бұрын
yoo "do" doğru
@shallusharma61326 жыл бұрын
Health economics
@rtx_____4 жыл бұрын
Your mom
@swaggyskye3 жыл бұрын
accounting, ethics, etc. lol
@nghialetrung52789 жыл бұрын
thank u very much, this video helps me a lot
@aik11344 жыл бұрын
I thought the formula was % Change in Quantity of A Demanded/%Change in Price of B? It looks like he used the Q of B and P of A. I'm confused...
@ItzIshu-vj8br9 ай бұрын
Thanks🙏
@VijayRaavi7 жыл бұрын
Good video, but since ebooks are nonrival goods why would people want more of them? I guess they'd want a bigger selection though.
@tutorialesnet12 жыл бұрын
Hey, keep the good work up!
@karo66776 Жыл бұрын
Perfect explanation❤
@makemymarket1772 Жыл бұрын
Hey awesome video man! Thanks!
@ibrahimb74194 жыл бұрын
thank you
@mohdashraff21503 жыл бұрын
Thank you!
@dushanelettman780910 жыл бұрын
great video
@baddist10111 жыл бұрын
how do i find XED for the equation Qdx = 10 + 0.06I -2Px -0.5Py + 0.7Pz if Px=9 Py=4 Pz= 10 Income=$250.
@DD-qe6uk5 жыл бұрын
I don't know
@aaronsmarrella32398 жыл бұрын
I'm trying to calculate the CED for an example given in class and any help would be much appreciated. We are comparing the complements of Tequila and salt. The original price of tequila is 10 and the quantity is 10. The price went up to 20 and the new demand is 5. The complement being salt had an original price of 2 dollars and the new price stayed at 2 dollars, but the quantity demanded of salt went from 3 to 1. The professor provided a CED of .7 Using your formula, I got -1.5 from the output values of P for tequila being .66 and the output of D for salt being -1 Help please
@kylepolizotto25398 жыл бұрын
You have not given enough information to do a calculation. but if I may interject. Tequila saw a price change of 100%, you would need the % change of quantity in salt to finish the calculation, but lets say salt QD went from 10 to 4. That is about a 60% decline in salt's QD. so -60/100= -0.6. So we know 2 things. 1. the XED value is negative so the goods are complementary. 2. the XED value is less than 1, so they are not that closely related.
@martinahoto3337 ай бұрын
correct me if I'm wrong. the percent change in price for airline 1 should be revisited. i think the percent change is 40% not 4.9%.
@Pinapoups3 ай бұрын
your explanations are so good, it helps me a lot! but i wanna ask, what if the CED values is "undefined"? it is means that the goods are not related too? Thank you
@gunz54312 жыл бұрын
great video!!
@mghz11411 жыл бұрын
Hello, great video, I would love to know what software are you using as a board to write on?
@sanatthukral15316 жыл бұрын
nicely explained Sal
@saadkhawar80398 жыл бұрын
this is confusing
@SevenHeaven7779 ай бұрын
After 7 years, yeah it is
@Giovanni-to4xh4 жыл бұрын
But why do you say that if it is complimentary then it is negative? what if the change in the ereader was positive? then you are not going to have a negative result anyways! It's not always negative! and the substitute is not always positive! right? they can also cut their price and make it not 1050 but 950. then it would be negative? oh im confused sorry
@95dank11 жыл бұрын
Magic
@alexannerberg85453 жыл бұрын
How would the equation look like using different customerbases, lets say that some people have a preference for e-books while some dont really like them. So effectively you have something like Q1A, Q2A, Q1B and Q2B.
@baddist10111 жыл бұрын
finding XED of Good x and Good y, then XED of Good x and Good z
@danymathew73259 ай бұрын
love you
@thecarrots512 жыл бұрын
Getting specific, but the penny thing is a bit too insignificant AMAZING VIDS btw, why do i even go to UNI???
@RihardsDel9 жыл бұрын
Is it possible to calculate cross elasticity of demand for crude oil and beef?
@kymanellewellyn88159 жыл бұрын
no bc they're not substitutes
@anza13006 жыл бұрын
Rihards yes, but you'll get zero CED because they're not substitutes or compliments.
@shutingleung81436 жыл бұрын
Yes. Crude oil and beef are independent goods, ie. the change in the price of beef will not affect the demand for crude oil. So the XED between the two goods would be zero.
@atharvadeshmukh26897 жыл бұрын
why has 1025 been taken instead of 1050
@anza13006 жыл бұрын
Atharva Deshmukh because (initial value + final value)/2 so (1000+1050)/2= 1025
@atharvadeshmukh26896 жыл бұрын
HowuDoin? Thank you
@firstnamesecondname81333 жыл бұрын
@@atharvadeshmukh2689 that's average If we want to average 2 things we we devide with 2 or if we want to Average 3 things we divide by 3...
@Duci19895 жыл бұрын
Do I understand correctly @5:17 that a price increase of 1% in tickets for Airline 1 would lead to a 13.4% increase in the demand for tickets from Airline 2?
@aishaabdi19069 жыл бұрын
in your average on the airline1 you said 4.9.... what if you used 0.05 as the change in price will it be wrong or is it a must to change the round off decimal? i understood the vedio but thats my question please answer back.... thank you
@BuffaloShifter9 жыл бұрын
why do you take the average isn't the percentage formula change over original multiplied by 100?
@byzantiumn85648 жыл бұрын
Why is what im being taught in my economics 1000 course completely different from almost anything you talk about in these videos :/
@kylepolizotto25398 жыл бұрын
That is because this video contains many errors and simplifications that lead to inaccuracy.
@beardededdie2846 жыл бұрын
Sal's usually pretty spot on.. Perhaps the class covers another aspect of Economics?
@kimsohyun12111 жыл бұрын
where do you get the calculator??
@DynastyJr12 жыл бұрын
keep it up
@bhumikachoudary37633 жыл бұрын
According to formula = %change in quantity demand of good 1(A1)/ % change in the price of good 2(A2). But you have taken %change in price in good 1(A1) and %change in quantity of good 2(A2). it's confusing..
@SkinnyPe7 жыл бұрын
9:32 why 1050??? 100/ 1050 Q it should be (100/ (1100-1000)} right?
@couleurs57337 жыл бұрын
100/( (1000+1100) /2) = 100/1050
@busraa8384 жыл бұрын
there are three title under the cross elasticity of demand: substitude goods, complementary goods, and independent goods. I took two of them from this video but where is the indepentdent goods that last one?
@syntheticfiber73883 жыл бұрын
he gave the example of a basketball and an e-reader
@khanacademy12 жыл бұрын
@plamenxyzpenchev Cross Elasticity of Demand
@adityarane27588 жыл бұрын
it is 0.49
@Smidday15 жыл бұрын
I keep getting this mixed up with the Midpoint (Arc) method
@devil18chauhan8 жыл бұрын
so, the CED for substitue goods is perfectly elastic, CED for unrelated goods in perfectly inelastic? Someone please confirm this
@nyarhasannisa83645 жыл бұрын
Yes
@rainl.73429 ай бұрын
He wrote it's 90 but it's 80
@samiasultana445 ай бұрын
No you have to take the average. 100+80=180 then 180/2=90
@DD-qe6uk5 жыл бұрын
Highest possible XED is 753 billion
@PupunRayna5 ай бұрын
question: how is the increase from 200 to 400, which is a 100% increase, become a 67% increase? getting rid of formula and just use logic and common sense
@spectra7gaming4714 жыл бұрын
I think my professor or teacher or whatever he was was attempting to over complicate this idea
@jrmjay9478 Жыл бұрын
where did you get the1025 from?
@ice_OnFire9 ай бұрын
in between of 1000-1050
@tsheringlhamo62335 жыл бұрын
How do I get that calculator?
@isaacblevins36226 жыл бұрын
This video sucks, why would you not use the unit neutral formula for elasticity
@jsmmz18205 ай бұрын
You lost me when u divided 50 to 1,025. Im stupid. Where on earth did u get 1,025 from??😭
@jamiainaga58532 жыл бұрын
Completely wrong
@Paswansonu806 жыл бұрын
totally faltu lecture its better to read book he is like reading chapter