2021-04-06

제5장 탄력성과 그 응용

그림 5.1: 수요의 가격탄력성 (a, b)

제5장 탄력성과 그 응용

그림 5.1: 수요의 가격탄력성 (d, e)

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Price Elasticity and Total Revenue

Continuing our scenario, if you raise your
price from $200 to $250, would your revenue
rise or fall?
Total Revenue (TR) = P x Q
• A price increase has two effects on revenue:
– Higher revenue: because of the higher P
– Lower revenue: you sell fewer units (lower Q)
• Which of these two effects is bigger?
– It depends on the price elasticity of demand

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as permitted in a license distributed with a certain product or service or otherwise on a password-protected website or school-approved learning 3
management system for classroom use.

Price Elasticity and Total Revenue

Demand for your websites
Inelastic demand
increased (elasticity = 0.82)
P revenue
due to lost If P = $200, Q = 12,
higher P revenue and revenue = $2400
$250 due to
lower Q If P = $250, Q = 10,
$200
and revenue = $2500
D
When D is inelastic,
Q a price increase
10 12 causes revenue to rise.

© 2018 Cengage Learning® . May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use
as permitted in a license distributed with a certain product or service or otherwise on a password-protected website or school-approved learning 4
management system for classroom use.

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Price Elasticity and Total Revenue

Demand for your websites
Elastic demand
increased (elasticity = 1.8)
P revenue
due to lost If P = $200, Q = 12,
higher P revenue and revenue = $2400
$250 due to
lower Q
$200 If P = $250, Q = 8, and
D revenue = $2000

When D is elastic,
Q a price increase
8 12
causes revenue to fall.

© 2018 Cengage Learning® . May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use
as permitted in a license distributed with a certain product or service or otherwise on a password-protected website or school-approved learning 5
management system for classroom use.

제5장 탄력성과 그 응용

수요의 가격탄력성에 관한 응용 사례 : 3번째

(5장의 맨끝에 나오는 내용)
(그림 5.9 마약소비를 줄이기 위한 정책)

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Does Drug Interdiction Increase

or Decrease Drug-related Crime?
1. Increase the number of federal agents
devoted to the war on drugs
– Illegal drugs: supply curve shifts left
• Higher price and lower quantity
– Amount of drug-related crimes
• Inelastic demand for drugs
• Higher drugs price: higher total revenue
• Increase drug-related crime

© 2018 Cengage Learning® . May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use
as permitted in a license distributed with a certain product or service or otherwise on a password-protected website or school-approved learning 7
management system for classroom use.

Policy 1: Interdiction
• Interdiction new value of drug-
• reduces the Price of related crime
S2
• supply of drugs. Drugs D1
S1
P2
• Demand for drugs is
inelastic: P rises
initial value
proportionally more P1
of drug-
than Q falls. related
crime
• Result: an increase in
total spending on Q2 Q 1 Quantity
drugs, and in drug- of Drugs
related crime
© 2018 Cengage Learning® . May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use
as permitted in a license distributed with a certain product or service or otherwise on a password-protected website or school-approved learning 8
management system for classroom use.

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Does Drug Interdiction Increase

or Decrease Drug-related Crime?
2. Policy of drug education
– Reduce demand for illegal drugs
– Left shift of demand curve
– Lower quantity
– Lower price
– Reduce drug-related crime

© 2018 Cengage Learning® . May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use
as permitted in a license distributed with a certain product or service or otherwise on a password-protected website or school-approved learning 9
management system for classroom use.

Policy 2: Education
• Education new value of drug-
reduces the Price of related crime
demand for Drugs
drugs. D2 D1
S
• P and Q fall.
P1 initial value
of drug-
• Result:
P2 related
A decrease in crime
total spending
on drugs, and in Q2 Q 1 Quantity
drug-related of Drugs
crime.
© 2018 Cengage Learning® . May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use
as permitted in a license distributed with a certain product or service or otherwise on a password-protected website or school-approved learning 10
management system for classroom use.

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Figure 9Policies to Reduce the Use of Illegal Drugs

(a) Drug Interdiction (b) Drug Education
1. Drug education
2. … which 1. Drug interdiction 2. . . . which reduces the demand
Price raises the reduces the supply Price reduces the for drugs . . .
price . . . of drugs. . . price . . .
S2 S1
Supply

P2
P1
3. … and
reduces the P2
P1
quantity sold
3. … and
reduces the
Demand D1
quantity sold D2

0 Q2 Q1 Quantity 0 Q2 Q1 Quantity
• Drug interdiction reduces the supply of drugs from S1 to S2, as in panel (a). If the demand
for drugs is inelastic, then the total amount paid by drug users rises, even as the amount of
drug use falls.
• By contrast, drug education reduces the demand for drugs from D1 to D2, as in panel (b).
Because both price and quantity fall, the amount paid by drug users falls.
© 2018 Cengage Learning® . May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use
as permitted in a license distributed with a certain product or service or otherwise on a password-protected website or school-approved learning 11
management system for classroom use.

제5장 탄력성과 그 응용

공급의 탄력성
• 공급의 가격탄력성(price elasticity of supply)
̶ 어느 재화의 가격이 변할 때 그 재화의 공급량이 얼마나
변하는지를 나타내는 지표
̶ 공급량의 변화율을 가격 변화율로 나눈 수치

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The Price Elasticity of Supply

• Price elasticity of supply
– How much the quantity supplied of a good
responds to a change in the price of that
good
– Percentage change in quantity supplied
• Divided by the percentage change in price
– Loosely speaking, it measures sellers’
price-sensitivity

© 2018 Cengage Learning® . May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use
as permitted in a license distributed with a certain product or service or otherwise on a password-protected website or school-approved learning 13
management system for classroom use.

제5장 탄력성과 그 응용

• 공급의 가격탄력성 계산법

̶ 공급량의 변화율을 가격의 변화율로 나눈 수치
̶ 양수
• 중간점을 이용한 탄력성 계산법
̶ 변화량을 중간점으로 나누어 변화율 계산
̶ (Q1, P1) 과 (Q2, P2)가 공급곡선상의 두 점일 때
가격탄력성 공식

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Price Elasticity of Supply

Price elasticity percentage change in Q s 16%
of supply   2
percentage change in P 8%

P
S

P rises P2
by 8% P
1
Again, we use the
midpoint method to
Q
compute the Q1 Q2
percentage changes. Q rises
by 16%
© 2018 Cengage Learning® . May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use
as permitted in a license distributed with a certain product or service or otherwise on a password-protected website or school-approved learning 15
management system for classroom use.

제5장 탄력성과 그 응용

• 다양한 모양의 공급곡선

̶ 비탄력적 공급: 탄력성<1
• 가격변화폭보다 공급량의 변화폭이 작다.

̶ 단위탄력적 공급: 탄력성=1

• 가격변화폭과 공급량의 변화폭이 같다.

̶ 탄력적 공급: 탄력성>1

• 가격 변화폭보다 공급량의 변화폭이 크다.

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제5장 탄력성과 그 응용

• 다양한 모양의 공급곡선

̶ 완전 비탄력적 공급: 탄력성=0
• 공급곡선이 수직선

̶ 완전 탄력적 공급: 탄력성=무한대

• 공급곡선이 수평선