Скачать или смотреть Measurement of Price elasticity of demand | class 11| Total expenditure method | Part 3

Measurement of Price elasticity of demand | class 11| Total expenditure method | Part 3
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In this video, ✔️ Class: 11th ✔️ Subject: Microeconomics ✔️ Topic: Measurement of Price elasticity of demand | class 11| Total expenditure method | Part 3
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The video focuses on the measurement of price elasticity of demand. Specifically, it details the Total Expenditure Method, one of two methods taught in CBSE Class 11 economics. The video explains the meaning of total expenditure and the Total Expenditure Method itself, illustrating how changes in price impact total expenditure, leading to three types of relationships: unit elastic (no change), elastic (inverse relationship), and inelastic (positive relationship). Furthermore, it presents a diagrammatic representation and numerical examples to solidify understanding, while also discussing the limitations of the method, primarily its inability to provide exact magnitude of elasticity.
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