Own price elasticity of demand, taxes

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Agriculture + Resrce Econ
AREC 202
Christopher Goemans

19 October Term paper Can pick a topic or use data given on Aplia Look at syllabus for more info Due 30 November Lib.colostate.edu Academic journals Click on articles & databases Click on E (economics) → econ lit Or W (web of science) Last week Different types of elasticity Own price elasticity of demand E PD E D CP D E I E PS Own price elasticity of demand Effect of ΔP on revenue Assume you can control price Want to get more money – do you raise price? QE: quantity effect on revenue PE: price effect on revenue If both come to ask how to raise revenue Tell asparagus grower to lower prices Tell cigarette manufacturer to raise prices The QE is greater than PE for elastic goods Vice versa for inelastic goods Unit elastic goods, QE = PE Last th
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