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ENDPOINT FORMULA: A simple technique for calculating the coefficient of elasticity that estimates the elasticity for discrete changes in two variables, A and B. The distinguishing characteristic of this formula is that percentage changes are calculated based on the initial values of each variable. This is much simpler than the midpoint formula, which is based on the percentage change from an average of the initial and ending values. The primary problem with the endpoint formula is that different elasticity values are obtained for price increases than for price decreases of the same segment of the demand curve.
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WHITE GULLIBON
Your compete MICRO*scope for today
You are the type of person who sees only the good in other people, because people are good. Family and friends see you as an easy mark. Today, you are likely to spend a great deal of time watching the shopping channel looking to buy either throw pillows for your living room sofa or a hepa filter for your furnace. Be on the lookout for jovial bank tellers. You should consider shopping at stores or businesses beginning with the letter F, but do not buy any products with a serial number or product code containing the number 464941. Your preferred shopping venue is television shopping channels. Your special symbol is the minus sign (-).
Is this You?
As a White Gullibon, you are extremely trusting but somewhat impressionable, seeing only the good in other people. You tend to be a bit naive in the wily ways of the marketplace and thus are often exploited by others, especially the Reg Aggressorine. Like it or not, you are the poster child for the phrase "let the buyer beware." You are empathetic to the plight of others, often to your own detriment.
This isn't me! What am I?
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PREFERENCES CHANGE, UTILITY ANALYSIS A disruption of consumer equilibrium identified with utility analysis caused by changes in the preferences for a good, which likely results in a change in the quantities of the goods consumed. The change in preferences alters the marginal utility-price ratio and forces a reevaluation of the rule of consumer equilibrium.
Complete Entry | Visit the WEB*pedia |
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Pumping Up The ECONOMIC GROWTHWe need to pay another visit to Scarcity Stan's Ye Olde Bakery Shoppe and Confectionery Palace. But this is not a social visit, nor is intended for some delectable pastries that will add a few extra pounds to our waistlines. We're here on official economic business. Stan's at wits end. He doesn't know what to do. There's been so much demand for his economic pie, what with society's unlimited wants and needs, that he needs to make it bigger. Our job is to figure out how. While we're doing that, we'll also see how to put our economy on the path to economic growth.
Tell me more...
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The New York Stock Exchange was established by a group of investors in New York City in 1817 under a buttonwood tree at the end of a little road named Wall Street.
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"And while the law of competition may be sometimes hard for the individual, it is best for the race, because it ensures the survival of the fittest in every department. " -- Andrew Carnegie, entrepreneur
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MLE
Maximum Likelihood Estimator
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