Price Elasticity of Supply

[BecksBecky4ever]

again.. amzing!

[IKMusic16]

legend

[TopGearrules]

Thank you sooo much for this video, really needed my understanding of PES and elasticity cleared up and you have certainly done this! Thank you!!!

[01baker]

just what i needed!

[xUKzR3VOlluTiONz]

basically my economics teacher is boring and less intellectual than you and you've helped me get through my A levels thankyou!!

[LincolnSufc]

Wow these videos are so clear to understand, got my exam next week and I don't know where I'd be without your help! pajholden, a 21st century Adam Smith.

[SameeraSenarathna]

very helpful for all of us

thnz sir

[Pikey1517]

Superb teachings, thank you very much!

[sdotpattni]

the world needs clear, coherent and concise teachers like you.

[taconight2night]

But what if it passes through the origin (0,0) but is rather steep or shallow? Couldnt it be either elastic or inelastic, then?

[mcentofanti10]

All I can say is, at 4:11 am, with my final in 8 hours, no amount of adderall could ever repay you for the help you have given me on this night. PS I'm going into teaching, and I truly hope one day I can describe the material as beautifully as you do. Kudos Prof

[OmgItsIce]

I have an econ final next week, this is going to help me so much!

Thanks for the Videos!

[IndoShanz]

I have a feeling that I'm going to ace the test tomorrow ;)

[mamasexi23]

OMG this made me understand alot more than in the class...thankyou

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i worship you

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[lamineshowcase]

Your brilliant man, thanks for this

[valverj]

I love your brain!!!

[SheVooZaXoo]

u must have your own show on tv and give lectures by TV u'll be a millionaire !!

[taconight2night]

thank you so much for the help!

[bejnet]

you explain so well. thanks

[ESTouray1]

Just thinking wild; what about the elasticity of money? Like natural resources with slow rate of response to changes in quantity, what will happen to the supply of money in both bad and good economic times? Just wondering...

[iciclesify]

i wish you were my professor. you make it seem so easy compared to my prof!

[Krazyarab69]

"thank you for watching the video" he says

No... THANK YOU!*

[khanyilex]

Sorry I can not rate you now my exam is on13/10/2011 n' there after I can say you are the MAN but for now you are the man. Thanx

[XinTian100]

Thank you so much for these GREAT videos!in Egypt the resources are limited,but you made it very easy for me to understand the concepts,you really are THE BEST!keep posting more pleassssse.wish you billions of blessing!!

[hellopoppychick]

Your so awesome.



[booribori]

it is very clear and easy to understand especially for a student with no basics. My lecturer should be replace!! =)

[Abhik262]

anyone here feel sorry for the chalk?

[JO3MOUS3]

how do I calculate the following: I buy milk from a supplier at $3.00 per gallon and I believe the elasticity of demand for milk by customers at my store is -4. what is my profit maximizing price?

[0625153544]

thank you (:

[luisespinax]

3:30 it is law of supply

[xDropless]

you really helped my friends and I with your videos KEEP IT UP!!!!

[camroberts1]

what factors will effect price elasticity of supply?

[hezc1]

@camroberts1

the firms spare capacity, level of stock and time period?!

xo

<3

[akrock47]

thumbs up if you're in IB and have Econ exams tomorrow!!!

[QuiksiIver]

Thumbs up if you have an exam tomorrow!

[iofai1994]

it should be PES- measures the responsiveness of "quantity supplied" to a change in price.

[Wrckless]

THANK YOU! This was a huge help!

[hgaillet1]

Thank you so much!!! I am not going to fail econ because of you!

[gitu4211]

ur d the best teacher i ve seen in my life... in 5 min u taught me eco... mann ur ausom.... keep yhe good work on...big fan from india... gitin varghese

[lillins93]

no, thank YOU very much

[DaggerinHeartYNWA]

cheers 

[kw1on]

At the 5 minute mark, was the example Veblen or Bates? If you could answer please, considering time-..........nevermind-Ricar­do

[kw1on]

At the 5 minute mark, was the example Veblen or Bates? If you could answer please, considering time-

[KrissyFivee]

Thank you so much :D My teacher had a little difficulty getting these points across!

[jacktharippares]

i love you! haha

[Truthpolice9698]

What about the mid point formula?

[sunshinetrickle]

I wish you were my Microeconomics professor. Thank you.

[OnlyOni008]

Thank You!!

[nasri2122]

watching this just before my exam thank you so much for all you've helped me with i've always been a mediocre student and thanks to you, i might (this is a big might) manage to do better than i should in this so thank you for al your help

[Nigeltheginger1]

You sir are an absolute LAD

[TheHamza539]

thank u sooooooooooo much

[bosh184]

man im in grade 11 and we are starting supply elasticity and i thought of getttin a head start on it and dammm you turned my teachers hour lesson into under 10 LOOL i love youtube thanks alot man keeep it up ive been watchin a bunch of your videos:D

[arsenalmanz]

wooow over the past few weeks you've helped me understand economic consepts so much better!!-i used to get 14/25 in my economics mocks but now i get over 20!! last mock we had i got 23/25 and of the answer that i got wrong in that mock was because of a simple miscalculaion-you are the best!!!!

[pajholden]

@arsenalmanz Glad to be a help! Good luck.

[10000maj]

@pajholden thx why dont u write ur own book

[ravensuichiro03]

thank you mister!you help me understand my midterms..hehe...

[FaroukdabashPresents]

I really need help, I have my IGCSE Economics exam tommorow! :(

[pajholden]

If you can't pick them from their titles, you are in trouble!

[PlaystationGamingTv]

Hey im doing Edexcel Unit 1: what videos of yours should i check? i dont want to revise stuff that will be coming in unit 2. PLease reply soon! thanks.

[fishbowlgot2small]

Great tutorials!

[ihadtosignupfuckers]

I was wondering what implications the elasticity characteristics of a good/service

are for the selection of a policy instrument?

[habi9b]

god bless u. u are good

[Bigheadet]

one short video > twelve lessons at my school

[mairagab]

that was good

[VAHIK87]

Brilliant thank you very much please keep uploading videos.trust me people will talk about you sooooooon.:)))))

[ironbeast6]

Mr. Holden, you are an exceptional tutor, you help clear up items that my lecturers in university gloss over.

[rafaelvazquez29000]

thanks your videos are really helpful.

[pleasecheckagain]

you're so awesome. thank you.

[likas15]

Thanks for the Video. but can i ask. is there a possibility that a Delta Q/P can be negative?. or The elasticity can be negative?.

[KrayZMattii3]

great video ,very hopefull

[billybobpie]

thanks for the video!,

could you please tell me why the price elasticity of supply for agricultural goods differs in the long run compared to the short run?

[xazngiirlx]

umm what about perfectly elastic or inelastic supply? how do u know when thats the case? is it when the value is 0 or infinity?

[000TheGingerOne000]

this video was really great, thanks very much ! :D

[npmmurshid]

Excelente way to understanding the economics it's helps me to understand very easy.

thx

[sntmiranda]

Excelente el video, ahora entiendo mucho mejor. Como decían por ahí; claro y conciso. Gracias! ;)

[azbap]

This is an answer to the question that someone asked, its below my typing

" Firms usually wish to measure the PES since it will provide an insight into the way in which price affected by the supply available is low, price will increase and when supply is high the price will decrease.

[cookdave]

You missed out unitary elasticity, which is the most important one imo as it indicates monopolistic activity.

Land has a unitary elasticity, the supply is fixed; we cannot create anymore of it and its also fixd in location, we cannot take it to where it is needed.

This is v.important but is consistently missed in economics theory. Because when the price rises, instead of increasing supply we funnel more investent into land speculation, which raises costs and makes production more difficult

[shylonguyen]

EXCELLENT. So much easier to understand than the the text book.

[WOGI5M]

Thanks so much for this. I was stuck on PES, but you have clarified it for me.

[92benno92]

My uncle has a doctorate in teaching Economics and he talks at me for hours and none of it gets through.

My teacher at school did a bachelor degree in commerce when he was 19 and he's our teacher ..

Thanks for the video.

[sujee1NE]

Thank you! Well Done!

[shadowkitty1988]

Thank you so much for all your videos! I'm at University and taking a microeconomics course---and your videos are great at explaining what I did not understand, and wonderful for giving me a review.

The videos have helped me to ace my first exam. Thanks! :)

[yunus123456789]

your the best man , thanks keep uploading videos

[mahakeem110]

Your lecture clearly elaborates the meaning it would be more useful and easy to put into our brains if you use simple examples...Thank you.

[jbmohan]

All of your resources are just GREAT! It's clear and concise...EXCELLENT resource for students...consider uploading on iTunes.

[yuko007]

If I could, I would give this video ten stars.

[captbax313]

this video is wonderful, thank you for sharing

[Karousha]

Thanks for everything i learn alot from these clip i'm at college u make thing easy thank u

[bowlste]

thanx again for a superb video- do you think you could make a short clip on what the Price Mechanism actually is and how it works please?

thanks :) A*

[DeathcabBUL]

Thank you :)

[Grealsa]

thank you :)

[milemead]

y do i learn more from a 7 min clip than an hour lesson lol, ur a legend.

[ShiSav]

Thanks!!!

[webzke07]

very well explained! Thank you very much.. i am a 2nd year Bachelor of Science in Business Administration here in the Philippines and your videos are really helpful to me.. thank you.. i hope you'll discuss next about CPI and the formula how to get the Real Price and Annual Rate.. Thank you very much sir, from now on, if i have an Assignment to do, i'll just check out your videos of request for your help.. God bless you sir

[gayathiritube]

hi, thanks for this video.

could u please tell me why firms need to know the income elasticity of demand for products they sell ??

thanks xx

[pajholden]

They don't have to know, but it might help them predict the impact on sales in a recession or boom I suppose.

[lkd1960]

@gayathiritube if you know how elastic your demand increases, you know how fast you have to react to make more product if you increase the price for your apples you know how many more apples to make at the new increased price.

[MrChowJJ]

@gayathiritube if an economy is growing and incomes are rising, firms can plan better for their investments if they know YED. Firms may want to switch in producing income-elastic products and invest now in expanding their capacity to meet the increase demand.

[goufms07b]

thanks alot

[torniai]

OMG that save me! Many thanks!

[nikki65652228]

it is very useful for me! i can be more easy to understand!

Thank you so much!

[loopsnhoops]

gooooooooood! now i gget it..

[maxairtube001]

Thanks you. It really helped. You are the MAN.

[Marishtay]

I Love You!

[dizzycritic]

much better than my textbook, thx

[arengo123]

Thank you very much. I have a final exam this week and I'm feeling more confident now.

[siuhoikib]

sir, im having a midterm test next week. I couldnt understand anything from my econ class until today i watched your teaching video! thanks sir, you definitely help me a lot thanks!!!!!

[llDeathll]

great teacher just great great great

[flyingshoelace818]

why 40%? why isn't it 400%?

[leonard740]

ur the best i have ever seen......ur better than our teachers in school

[redgibbon]

thanks raj, i have learnt more in the last 7 mins than i have at school all year!

[rshelef13]

Thank you!

[xbebex05]

You are a great teacher! I always got confused at University when teachers started talking about PES. But after I watched this video I even learned more than following an hour of Microeconomics lecture...

[sdquitugua]

You are a very effective teacher. I wish we had teacher like you in the US. Thank you for posting this, you have made a difference in my understanding with my economics courses.

[anwar21580]

Thanx for the simple explanation..which makes me wonder, why is it lecturers at Uni cant teach the subject the way u do?

They dont include the application part which is very important if u wanna learn sth.

Otherwise, how do we relate?

[RBAFleet]

thanks, this help me a lot!

[ilovechangchun]

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[karanct007]

A lot of teachers cant teach at all... You are really great! Without you i really dont get anything about this subject! You are great :D !

[ifyoureadthisyousuck]

wow i don't even do economics, and i understood this, i'm in high school..

[theredfoxxy]

I am a professor returning to school for my 2nd masters and i would like to thank you for the simpicity and thoroughness of your explanations. You have helped me tremendously.

[andreasalayzae]

thank you very much for doing these videos, they are very helpfull

[londonliner]

You Are an EXCELLENT teacher!!!!!!!!!!! you set the standard for what teachers should be like!!!!

THANK YOU SOOO MUCH !!!!!

[kypswei]

AMEN!

[tipplegend99]

Got my Leaving Cert Economics exam tomorrow, these are really helpful, tanx a milllion.

[5awlla]

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[101Sinister101]

cool... test tomorrow. good review

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you should do these naked they are so good

[pajholden]

Maybe next time - it is getting hot here in Greece...

[domokun92]

10:50 PM with a 10 minute oral due tomorrow on this very topic which I have not started

Right now, you are my god.

[Nequam92]

Very good stuff, and you are a God with that chalk!

[TheElwall]

I have got a Unit 1 retake on Wednesday and these videos are saving my life!!

[alexterry92]

same here, good luck to you :)

[TheElwall]

Hehe, how was yours mate, i thought it was pretty easy tbh, i was uite surprised :)

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got my exam tomorrow.. This really helps!

[TheElwall]

Yeah, it does really help!!! Good luck with your exams!!! :)

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[alexterry92]

learn to write dumbass.

i'm on ocr.

i messed up my unit 1 but unit 2 was fine

[mikek2800]

excellent 5*

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Thanks so much for your videos. I hope you dont mind but i downloaded them and combined them into one giant movie for personal use

[plcltd]

Man, your channel is a life saver! Thanks so much

[BinJuiceYes]

THANK YOU!!!! Exam tomorrow!

[flaco21s]

Could you give some examples about loss minimizing profit..

[flaco21s]

Thank you, my final exam is next week and this is gonna help me a lot...very good examples...see u soon..

[sirsnaz]

Thanks for all this

[the1trueseed]

good stuff should be v useful for my upcoming exams, cheers

[Kachaloo]

GOd, you are soo good. You make things so much easier. Thanks a world. Wish you were my prof. Please keep updating more videos.

[purculime]

By the way, I want you to know that I've submited your videos to stumbleupon in order to give more people the posibility to enjoy your videos. Thank you once more!

[purculime]

You are an amazing teacher. Thank you so much for posting these videos. I'm a student at what suposedly is the best economics academy of Romania, ASE, in the international economics relationships section. And I must say that my current macroeconomics teacher is the tipe of woman that just shows up for us to see her talking without saying anything useful (I'm not her only student with this opinion). You are amazing, wish you were my teacher!

[kisumu89]

Just subscribed to your blog! Thanks!

[Boosted2k]

Thanks once again! hopefully you have a video through all the chapters in my book :)

[anselmsim]

What I mean is that when Price fall for a price elastic supply curve, there will be an increase in the PES value. Is it true?

[anselmsim]

I'm sorry Pajholden but I have a question I wish you would answer.

I heard that at every single point of the supply curve, the price elasticity of supply value is different. In the case of T-shirts, maybe the value 4 is only for a percent change in price of Tshirts which leads to a 4 percent rise in quantity supplied of the T-shirts.

Assuming there is really a 10 percent fall in price of Tshirts, the fall in quantity supplied may not be 40 percent. Am I correct? Please answer =)=)

[mamdu90]

No. You're not correct, 'cause the PES is a straight line, and not a curve, so at every point of the line, the change in price will be in same proportion with the change in supply. I think you got me. =]

[IntegratedDerivative]

Hey I just want to say thanks for the clear explanation.

[trinisce]

I have an exam tomorrow, and this is helping soooo much. Absolute life saver!

[holysmokk]

So, so good. Better than my textbook by far! Thanks so much.

[yellowbluebuz]

Mr Phill, thank you very much...

this will be so usefull for my revising (i have my econ exam this monday!!!)

[Chilax]

why did you not do this a week earlier?! thats when i had my test :(

[Doves8]

This was excellent as usual. I too have been hoping you would do this to round out the "elasticity" segment of micro

[creatively12]

Gr8 vid, looking forward to this 1 for a long time

Hey paj, can't you upload some more videos on labour markets