Elastisitas Permintaan dan Penawaran

Introduction

This tutorial covers the concept of elasticity in demand and supply, an essential topic in economics for high school students. Understanding elasticity helps explain how consumers and producers react to changes in price, making it crucial for analyzing market behavior. We will discuss the definitions, calculations, influencing factors, and practical examples of elasticity.

Step 1: Understand the Definitions of Elasticity

Elasticity of Demand

• Definition: Elasticity of demand measures how much the quantity demanded of a good responds to a change in its price.
• Key Concept: If the quantity demanded changes significantly with a price change, demand is considered elastic. If it changes little, demand is inelastic.

Elasticity of Supply

• Definition: Elasticity of supply measures how much the quantity supplied of a good responds to a change in its price.
• Key Concept: Similar to demand, if the quantity supplied changes significantly with a price change, supply is elastic; if little, it is inelastic.

Step 2: Calculate Elasticity

Formula for Elasticity of Demand

• The formula to calculate elasticity of demand is:

  [ E_d = \frac{%\text{ Change in Quantity Demanded}}{%\text{ Change in Price}} ]

Formula for Elasticity of Supply

• The formula to calculate elasticity of supply is:

  [ E_s = \frac{%\text{ Change in Quantity Supplied}}{%\text{ Change in Price}} ]

Calculation Steps

1. Determine the initial and new prices and quantities.
2. Calculate the percentage change in quantity and price.
3. Substitute the values into the formulas above.

Step 3: Factors Influencing Elasticity

Factors Affecting Demand Elasticity

• Availability of Substitutes: More substitutes lead to higher elasticity.
• Necessity vs Luxury: Necessities tend to have inelastic demand, while luxuries are more elastic.
• Time Period: Demand elasticity can change over time; it tends to be more elastic in the long run.

Factors Affecting Supply Elasticity

• Production Time: Goods that can be produced quickly have more elastic supply.
• Availability of Resources: If resources are readily available, supply elasticity increases.
• Flexibility of Production: Firms that can easily adjust production have more elastic supply.

Step 4: Practice with Examples

Example of Elasticity of Demand

• Scenario: If the price of a coffee increases from $2 to $3, and the quantity demanded falls from 100 cups to 70 cups.
• Calculation:
  • Price change: (3-2)/2 = 0.5 or 50%
  • Quantity change: (70-100)/100 = -0.3 or -30%
  • Elasticity of demand: -0.3 / 0.5 = -0.6 (inelastic)

Example of Elasticity of Supply

• Scenario: If the price of oranges increases from $1 to $2, and the quantity supplied rises from 50 to 100 pounds.
• Calculation:
  • Price change: (2-1)/1 = 1 or 100%
  • Quantity change: (100-50)/50 = 1 or 100%
  • Elasticity of supply: 1 / 1 = 1 (unit elastic)

Conclusion

Understanding elasticity of demand and supply is crucial for analyzing market dynamics. Mastering the definitions, calculations, and influencing factors allows for better decision-making in economics. To deepen your understanding, practice more examples and apply these concepts to real-world economic scenarios.