Pier Clanticety off lamencl T+ so a meanune of runponsivenes of damanl cut to chang in Pala of an % change in.» 92-M%» change in ap Ste08* F Congnang. “he change im Pritt | sega st changin sa eu? ? Degrate of PED 2» Pap cy inelasha olmanol 2. BySignificont change in Prig wll nok Pane 7% . > Pou © Pep-0 10 apo peo = ie king wer gO © fe Trang, i bau > Pac PS Elo Suman de (ee =) A change in Pruo awill change clomand comptally Bue % ne Por 4 uasety Frelohe dl (pene. hen a ange in Priv sasolt in fess. Prapectionals change Im Bucwitty ole mandacl % chang in Priv Yo changs OD rw. Oa Pie , 1 Fe anny DOS 62 % The negative sign shou that law of comand rs apphicodts Peds F<) 2 Natu of trod to Addictive | necestty > Snort Tine sPAN > Oss) Prapeccindic: Spending F_ des\numbu of Subbitule LR) Monopely fast get (Ped wh mal! frantuy change in Biv Sead a Largs Praporthinaks chengs in 00 Qu pep. 22-109 10 Qq-10 yo "9 = S218 2 > = sp = -3% eel > Loxuxy gerd > ene, Nubile > Long nun 9 Laxge Bepartin af incme da spent > Coxe 7 fasegs ruber Of Substrhtio oe aveilabls Such an Rortuarants. ohit! elaotic olemand § (Ped <1) me ha when ad % chang i9\ Bud Muautt in Cyuel Yo change inad. |A changs (AY Bud! = “A change nad Bu & Ractungutun Hypabsla Curve 4 to fe Perm) 2 D 4 Guat Delixminants of Ped PP Nolin of good Ha gard 13 mecully uch an Foret than with Gn Mh in Rov th Unsumphion cannse be prstponeid im ful. olemand foe reams will be pri “nelaarhe (PéD<\ Whe ao if a good! to Luxury than ts Consumption Can be postpenced with 2n Ms im Bua ‘Ahrijos Pep 31. > Sirnilarly ot agi do addichve im native tran an individual soil be Less seopensive ruvards Pu —teferd Ais addiction: a Availability of Substitules 4 numb. of Substtula ow availa than thy irclivicluals will Le nace yunprnsive ctowardo Buu change ao with an Tn Buy Ahey aurlll hubris ot ath aveilably oftens trun Peo 71. Whrwo if Lm rumba of Subibths wu availabr Like monopoly tran ti TAs suoponsvingiepadesrgumen chmand vill kin theget PED} Ty SAen:> TA Prot Run Péo4i Rain PMuab Lone Ide tive to bk Fan cof Age tute. Whewcoff in tony kur ap P\ruen can elon phvaile” cup Be bald trun Pe>7I. Prepetion Bf income spent + if Reapoten af income spent u high then PED>). hws ao if Bropordion of income send is bis Han te Change in PEO alan. a Linear oLimard Gun Cons, Hovsco B with in Mn in Bus Ths Product telten Levys Prepustion of income tw PED valu Apo with an Ah in Rua uantiny ADIRS 10x Vo O> TR & raxe0 sums Serpette D ec = lowe D Roly, (abled Pehes cba Rageart and of tiny ung art explores! chem diego Explain why prig® laticty of demshd varies alonga straight ine demand curve Explain two Masons whyithe(Sérnand fr primary commodities might be pice inelastic famine the signfeance of price elasticity of demand forthe dection making sand government > Examine the importance of income elasticity of demand forthe producers of primaty product, manufactured goods and services |Z Pefinr PED > : PED in erful fr a Guowen to marine Tot Rear Suthao if a Psduch of Alerhel ha a Knovldgn eae for alioh3l 1, To Maximiy Riven he Shoui/ Lrotet AA pray ao 4n in Bur will + a0i0 Ln Prupetir> > TRE bu BAN of Rerre dunre Man Fre See Bin ot Reins dew te Aer 1p Wea cornet of Mob) ab wus acb STIR duct Mh io Pave st inelaotic gor Whw ap if th Prdut cimand io Clog Sucnao ruohuurart fod lus +o availabelih of torso numba f Subs thle u Ti to belterto tin Ba to Naamin Revenues ob Paxot unin Baty a» fod Jonge “te Yor in) aD e wv fe > TTR ow quad; 9} Ror God fiw te Ped valus io Al the me produc huo agedive Rewinne Matimaition Dimrkho> Fe valu ef PLD can aloo vary Lith te Fore and it bone} Frersbls for Brel to sugpend and gyn acrwting to PUD aby tid ir Br Gevt_aloo ubmgevte do “Ming Wve pr Subiidy ee Sof He geet want to impant “oxo He suduy eoncumphm of —bburs treo tt hwo A Sep taxn in Bop “sy Sushas to Unthy conumpteo Ye -tebace TH Yembonh gov) hoo impnd 42% ter. Ptoims tren in BO dune te inchahe clomid Will be Due ia Prypetes Trimet will Ay Gerd tax Reverne aye Brpativn