Price elasticity of demand (PED)

[@meeraparmesh5790]

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[@ibeconguru]

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[@vortexsb9631]

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[@ibeconguru]

Of course! I’d be happy to help you find physical study notes to review from. Please contact me via email and we can discuss ([e-mail])

[@DJTejasMusic28]

Quick question.. You say that for a demand curve, PED is more sensitive at higher prices, as people are more concerned with the marginal increase in price. However, there are contradictions to this. Take the sale of cars. For luxury car, costing say 40 units, a change in price of 1 unit will not cause a great change in demand. However, for a low-cost car, that costs 10 units, the responsiveness to an increase of 1 unit will be greater. What happens here?

[@icarusshepherd1724]

i guess that luxury goods are highly elastic. according to the definition

[@avvalbomb6279]

Really Helpful video. Thanks

[@ibeconguru]

You’re welcome :)

[@paramsheth8678]

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[@ibeconguru]

Param Sheth yes for both HL and SL

[@paramsheth8678]

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[@ibeconguru]

Param Sheth I hope you mean insanely ‘good’ not ‘bad’ :)