4-Elastisitas & Aplikasinya

4
Elasticity and Its Applications

Mankiw, N.Gregory. 1998. Principles of Economics.
Hartcourt Brace & Company.
(Terjemahan oleh Haris Munandar & Emil Salim. 2000. Penerbit Erlangga. Jakarta)
Prof. Dr. Yunastiti Purwaningish, MP

Copyright © 2004 South-Western
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Elasticity . . .
• … allows us to analyze supply and demand with
greater precision.
• … is a measure of how much buyers and

sellers respond to changes in market
conditions …….respon pembeli dan penjual
terhadap kondisi pasar (perubahan harga)
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Copyright © 2004 South-Western/Thomson Learning
THE ELASTICITY OF DEMAND
• Price elasticity of demand is a measure of how
much the quantity demanded of a good responds to
a change in the price of that good.
• Price elasticity of demand is the percentage change in
quantity demanded given a percent change in the price.
1%∆P  ? %∆Qd ;
∆P=1%  ∆Qd?%
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Computing the Price Elasticity of Demand
• The price elasticity of demand is computed as the

percentage change in the quantity demanded
divided by the percentage change in price.
Percentage change in quantity demanded

Price elasticity of demand =
Percentage change in price
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• Example: If the price of an ice cream cone increases

from $2.00 to $2.20 and the amount you buy falls
from 10 to 8 cones, then your elasticity of demand
would be calculated as:
(10  8) [(10-8)/10]x 100
 100 20%
10  2 [(2.00-2.20)/2.00]/x100
( 2.20  2.00)
 100 10%
2.00 20%/-10% = - 2
yst_stm

The value of E(Q,P) must always be negative, reflecting the fact

that demand curves slope downward because of the inverse
relationship of price and quantity: When price increases,
quantity decreases, and vice versa.
Besanko yst_stm
The Midpoint Method: A Better Way to Calculate
Percentage Changes and Elasticities
• The midpoint formula is preferable when

calculating the price elasticity of demand because it
gives the same answer regardless of the direction of
the change.
(Q 2  Q1 ) / [(Q2  Q1 ) / 2]
(P2  P1 ) / [(P2  P1 ) / 2]
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The Midpoint Method: A Better Way to Calculate
Percentage Changes and Elasticities
• Example: If the price of an ice cream cone increases
from $2.00 to $2.20 and the amount you buy falls
from 10 to 8 cones, then your elasticity of demand,
using the midpoint formula, would be calculated as:
(Q 2  Q1 ) / [(Q2  Q1 ) / 2]
(P2  P1 ) / [(P2  P1 ) / 2]
(10  8)
(10  8) / 2 22% (10-8)/[(10+8)/2] = 22
  2.32 (2.00-2.20)/[(2.00+2.200)/2]= - 9.5
(2.20  2.00) 9.5%
22/-9.5 = - 2.32
(2.00  2.20) / 2
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The Variety of Demand Curves
• Inelastic Demand
• Quantity demanded does not respond strongly to price
changes.
• Price elasticity of demand is less than one.
• Elastic Demand
• Quantity demanded responds strongly to changes in
price.
• Price elasticity of demand is greater than one.
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(100 - 50)
(100  50)/2
ED 
(4.00 - 5.00)
Price (4.00  5.00)/2
$5 
67 percent
 -3
- 22 percent
4
Demand
Demand is price elastic
0 50 100 Quantity
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• Perfectly Inelastic
• Quantity demanded does not respond to price
changes… Elasticity Equals 0
• Perfectly Elastic
• Quantity demanded changes infinitely with any change
in price…. Elasticity Equals Infinity (∞)
• Unit Elastic
• Quantity demanded changes by the same percentage as
the price…. Elasticity Equals 1
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• Because the price elasticity of demand measures

how much quantity demanded responds to the price,
it is closely related to the slope of the demand
curve.
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Elastis : > 1 ; inelastis : <1
Besanko
Besanko
PRICE ELASTICITY OF DEMAND
Besanko
Tabel 5.9 Elastisitas Harga Menurut Tingkat Ketahanan Pangan dan Total
Rumah Tangga di Provinsi Jawa Tengah
Komoditi Pangan Tingkat Ketahanan Pangan Total
Tahan Kurang Rentan Rawan
Beras -0,6517 -0,7758 -0,5874 -0,6211 -0,6825
Ketela -0,6182 -0,9991 -0,9968 -0,9983 -0,9984
Pangan Hewani -0,8087 -0,7426 -0,8684 -0,7554 -0,8308
Lauk-Pauk -0,5178 -0,5263 -0,5996 -0,6089 -0,5935
Buah -0,1359 -0,1783 -0,2426 -0,0123 -0,2030
Bahan Minuman -0,7530 -0,6824 -0,8239 -0,8487 -0,6748
Mie -0,9981 -0,9986 -0,9912 -1,0000 -0,9977
Makanan dan Minuman Jadi -0,5162 -0,4852 -0,4488 -0,3693 -0,4237
Tembakau -1,3228 -1,4687 -1,3547 -1,4178 -1,3673
Sumber : Hasil analisis regresi permintaan pangan tabel 5.4 s/d 5.8, diolah
Purwaningsih, Yunastiti. 2010. “Analisis Permintaan Pangan Pada Berbagai

Tingkat Ketahanan Pangan Rumah Tangga di Provinsi Jawa Tengah”.
Disertasi. Program Doktor Pascasarjana UGM. Yogyakarta.
Besanko yst_stm
Besanko yst_stm
The Price Elasticity of Demand and Its
Determinants
• Availability of Close Substitutes – ketersediaan
barang pengganti.
• Necessities versus Luxuries – barang pokok versus
barang mewah.
• Definition of the Market – definisi pasar
• Time Horizon – horison waktu
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The Price Elasticity of Demand and Its
Determinants
• Demand tends to be more elastic :
permintaan semakin elastis bila :
• the larger the number of close substitutes – semakin
banyak barang penggantinya.
• if the good is a luxury – barang mewah.
• the more narrowly defined the market – pasarnya
sempit.
• the longer the time period – jangka waktu lama.
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Short-Run Versus
Long-Run Elasticities
Demand
• Most goods and services:

• Short-run elasticity is less than long-run elasticity.
(e.g. gasoline)
• Other Goods (durables):

• Short-run elasticity is greater than long-run elasticity
(e.g. automobiles)

Gasoline: Short-Run and
Long-Run Demand Curves
Demand Short-run elasticity is less
Price DSR
than long-run elasticity (e.g.
gasoline)
People tend to
drive smaller and
more fuel efficient
cars in the long-run
Gasoline DLR
Quantity

Automobiles: Short-Run and
Long-Run Demand Curves
Demand Short-run elasticity is greater
Price DLR
than long-run elasticity (e.g.
automobiles)
People may put

off immediate
consumption, but
eventually older cars
must be replaced.
Automobiles DSR
Quantity

ELASTICITY IN THE LONG RUN VERSUS THE SHORT RUN
Most goods and services
For certain goods, long-run
market demand can be less
Other Goods (durables) elastic than short-run
demand…. Demand dalam
jangka panjang kurang elastis
dibanding jangka pendek.
This is particularly likely to be
true for goods such as
automobiles or airplanes––
durable goods––that
provide valuable services over
many years.
permintaan semakin elastis bila semakin banyak barang penggantinya
yst Besanko yst_stm
permintaan semakin elastis bila pengeluaran
konsumen untuk membeli barang tersebut
merupakan bagian yang besar
Besanko yst_stm
permintaan semakin kurang elastis bila barang tersebut merupakan
barang keperluan sehari-hari
Besanko yst_stm
Rokok : elastisitas harga adalah inelastis : P ↑ 1 %  Qd ↓ < 1%
Rokok merek Sampurna : elastisitas harga adalah elastis : P ↑ 1 %  Qd ↓ > 1%
Besanko yst_stm
Beda : mungkin ada substitusi
Rokok : elastisitas harga adalah inelastis : P ↑ 1 %  Qd ↓ < 1%

Rokok merek Sampurna : elastisitas harga adalah elastis : P ↑ 1 %  Qd ↓ > 1%
Besanko yst_stm
Besanko yst_stm
Total Revenue and the Price Elasticity of
Demand
• Total revenue is the amount paid by buyers and
received by sellers of a good.
• Computed as the price of the good times the
quantity sold.
TR = P x Q
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Figure 2 Total Revenue
Price
$4
P × Q = $400
P
(revenue) Demand
0 100 Quantity
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Q
Copyright©2003 Southwestern/Thomson Learning
Ep < 1 atau inelastis  P dan TR bergerak dengan arah yang sama
P ↑ (1%)  Qd ↓ (< 1%)  TR ↑ [ TR ↑↑↑ = P ↑ (1%) . Q ↓↓ (< 1%) ]
Ep > 1 atau elastis  P dan TR bergerak dengan arah yang berlawanan

P ↑ (1%)  Qd ↓ (> 1%)  TR ↓ [ TR ↓↓↓ = P ↑ (1%) . Q ↓↓ (> 1%) ]
Elasticity and Total Revenue along a Linear
Demand Curve
• With an inelastic demand curve, an increase in
price leads to a decrease in quantity that is
proportionately smaller. Thus, total revenue
increases.
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Figure 3 How Total Revenue Changes When Price Changes:
Inelastic Demand
Price Price
An Increase in price from $1 … leads to an Increase in total
to $3 … revenue from $100 to $240
$3
Revenue = $240
$1
Revenue = $100 Demand Demand
0 100 Quantity 0 80 Quantity
Ep < 1 atau inelastis  P dan TR bergerak dengan arah yang sama

P ↑ (1%)  Qd ↓ (< 1%)  TR ↑ [ TR ↑↑↑ = P ↑ (1%) . Q ↓↓ (< 1%) yst_stm]

Elasticity and Total Revenue along a Linear
Demand Curve
• With an elastic demand curve, an increase in the
price leads to a decrease in quantity demanded
that is proportionately larger. Thus, total revenue
decreases.
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Figure 4 How Total Revenue Changes When Price Changes:
Elastic Demand
Price Price
An Increase in price from $4 … leads to an decrease in total

to $5 … revenue from $200 to $100
$5
$4
Demand
Demand
Revenue = $200 Revenue = $100
0 50 Quantity 0 20 Quantity
Ep > 1 atau elastis  P dan TR bergerak dengan arah yang berlawanan

P ↑ (1%)  Qd ↓ (> 1%)  TR ↓ [ TR ↓↓↓ = P ↑ (1%) . Q ↓↓ (> 1%)yst_stm]

Elasticity of a Linear Demand Curve
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Elasticity of a Linear Demand Curve
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Income Elasticity of Demand
• Income elasticity of demand measures how much

the quantity demanded of a good responds to a
change in consumers’ income.
• It is computed as the percentage change in the
quantity demanded divided by the percentage
change in income.
Percentage change
in quantity demanded
Income elasticity of demand =
Percentage change
in income
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Income Elasticity
• Types of Goods
• Normal Goods
• Inferior Goods
• Higher income raises the quantity demanded for
normal goods but lowers the quantity demanded
for inferior goods.
semakin tinggi income  Qd barang normal ↑

dan Qd inferior ↓
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Income Elasticity
• Goods consumers regard as necessities tend to be

income inelastic…barang keperluan sehar-hari
 inelastis
• Examples include food, fuel, clothing, utilities, and
medical services.
• Goods consumers regard as luxuries tend to be
income elastic…. barang mewah  elastis
• Examples include sports cars, furs, and expensive foods.
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Percentage change
in quantity demanded
Income elasticity of demand =
Percentage change
in income
Income elasticity of
demand measures how
much the quantity
demanded of a good
responds to a change in
consumers’ income
yst
Income elasticity of
demand measures how
much the quantity
demanded of a good
responds to a change in
consumers’ income
yst
Tabel 5.14 Elastisitas Pendapatan Menurut Tingkat Ketahanan Pangan dan
Total Rumah Tangga di Provinsi Jawa Tengah
Komoditi Pangan Tingkat Ketahanan Pangan Total
Tahan Kurang Rentan Rawan
Beras 0,7366 0,7573 0,6491 0,6086 0,7515
Ketela 0,7779 0,6135 0,4536 0,6133 0,6059
Pangan Hewani 0,8333 0,8880 1,0000 1,0000 0,8891
Lauk-Pauk 0,7759 0,7776 0,8115 0,7976 0,8355
Buah 0,8383 0,8544 1,1118 0,7133 0,8828
Bahan Minuman 0,7954 0,7719 0,9224 0,8507 0,8927
Income elasticity of Mie 0,8109 0,8374 0,4107 1,0000 0,8113
demand measures how Makanan dan Minuman Jadi 0,8441 0,8491 1,1276 1,0000 0,8317
Tembakau 3,4761 3,2986 2,1706 2,7476 2,6945
much the quantity Sumber : Hasil analisis regresi permintaan pangan tabel 5.4 s/d 5.8, diolah
demanded of a good
responds to a change in Purwaningsih, Yunastiti. 2010. “Analisis Permintaan
consumers’ income Pangan Pada Berbagai Tingkat Ketahanan Pangan Rumah
Tangga di Provinsi Jawa Tengah”. Disertasi. Program
Doktor Pascasarjana UGM. Yogyakarta.
yst
∆ Harga barang 2
 ∆Q barang 1
The cross-price elasticity is a positive or
negative number depends on whether the two
goods are substitutes or complements.
Substitutes are goods that are typically used in
place of one another, such as hamburgers and
hot dogs. An increase in hot dog prices induces
people to grill hamburgers instead. Because the
price of hot dogs and the quantity of
Harga barang2 ↓ ↑
hamburgers demanded move in the same
 Q barang 1 ↓ ↑
direction, the cross-price elasticity is positive.
Harga barang2 ↓ ↑ Complements are goods that are typically
 Q barang 1 ↑ ↓ used together, such as computers and
software. In this case, the cross-price
elasticity is negative, indicating that an
increase in the price of computers reduces
the quantity of software demanded.
 Q barang 1↓ ↑
 Q barang 1 ↑ ↓
 Q barang 1 ↓ ↑
 Q barang 1 ↑ ↓
Tabel 5.10 Elastisitas Silang Permintaan Beras dan Ketela Menurut Tingkat Ketahanan Pangan dan Total
Rumah Tangga di Provinsi Jawa Tengah
Komoditi Pangan Beras Ketela
Tingkat Ketahanan Pangan Total Tingkat Ketahanan Pangan Total
Tahan Kurang Rentan Rawan Tahan Kurang Rentan Rawan
Ketela 0,0007 0,0006 0,0021 0,0017 0,0010
Pangan Hewani 0,0160 0,0123 -0,0136 -0,0009 0,0152 0,0135 0,0195 0,1648 0,0237 0,1512
Harga barang2 ↓ ↑ Lauk-Pauk
Buah
-0,1178 -0,1761 -0,1767 -0,1103 -0,1942 0,0268 0,0485 -0,5074 0,0701
0,0056 -0,0279 -0,0461 0,0079 -0,0255 0,0047 0,0067 0,0137 0,0078
-0,2292
-0,0770
 Q barang 1 ↓ ↑ Bahan Minuman 0,0061 0,0056 0,0124 0,0123 0,0072 0,0052 0,0090 -0,7609 -0,3344 -0,6486
Mie 0,0260 0,0021 -0,0086 0,0050 0,0030 0,0022 0,0034 0,0081 0,0050 0,0047
Makanan dan Minuman Jadi 0,2337 0,0267 0,0560 -0,0663 0,0342 0,0261 0,0425 -0,4074 0,0594 -0,4360
Tembakau 0,0089 0,0617 0,0771 -0,0048 0,0819 0,0075 0,0139 0,4408 0,1417 0,4122
Sumber : Hasil analisis regresi permintaan pangan tabel 5.4 s/d 5.8, diolah
Purwaningsih, Yunastiti. 2010. “Analisis Permintaan Pangan Pada

Berbagai Tingkat Ketahanan Pangan Rumah Tangga di Provinsi
Harga barang2 ↓ ↑ Jawa Tengah”. Disertasi. Program Doktor Pascasarjana UGM.
 Q barang 1 ↑ ↓ Yogyakarta.
THE ELASTICITY OF SUPPLY
• Price elasticity of supply is a measure of how much
the quantity supplied of a good responds to a
change in the price of that good…seberapa besar
jumlah yang ditawarkan berubah karena perubahan
harga
• Price elasticity of supply is the percentage change
in quantity supplied resulting from a percent change
in price…diukur dalam persen
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Computing the Price Elasticity of Supply
• The price elasticity of supply is computed as the

percentage change in the quantity supplied divided
by the percentage change in price…diukur sebagai
persentase jumlah yangditasarkan sebagai satu
persen perubahan harga
Percentage change
in quantity supplied
Price elasticity of supply =
yst_stm
Price elasticity of supply is a measure
of how much the quantity supplied
of a good responds to a change in the
price of that good… seberapa besar
jumlah yang ditawarkan
berubah karena perubahan harga ∆ P = 1 %  ∆ Qs = ? %
yst

yst
Determinants of Elasticity of Supply
• Ability of sellers to change the amount of the good

they produce… kemampaun penjual untuk
merubah sejumlah barang yang diproduksi
• Beach-front land is inelastic…pantai  inelastis
• Books, cars, or manufactured goods are elastic…buku,
mobil atau barang manufaktur  elastis
• Time period.
• Supply is more elastic in the long run…jangka panjang
Supply lebih elastis
yst_stm
APPLICATION of ELASTICITY
• Can good news for farming be bad news for

farmers? Mungkinkah berita baik di bidang pertanian
merupakan berita buruk bagi petani ?
• What happens to wheat farmers and the market
for wheat when university agronomists discover a
new wheat hybrid that is more productive than
existing varieties?
yst_stm
THE APPLICATION OF SUPPLY,
DEMAND, AND ELASTICITY
• Examine whether the supply or demand curve
shifts.
• Determine the direction of the shift of the curve.
• Use the supply-and-demand diagram to see how the
market equilibrium changes.
yst_stm
Figure 8 An Increase in Supply in the Market for Wheat
Price of
Wheat 1. When demand is inelastic,
2. . . . leads an increase in supply . . .
to a large fall S1
in price . . . S2
$3
Demand
0 100 110 Quantity of

Wheat
3. . . . and a proportionately smaller
increase in quantity sold. As a result,
revenue falls from $300 to $220. yst_stm

Summary
• The income elasticity of demand measures how
much the quantity demanded responds to changes in
consumers’ income.
• The cross-price elasticity of demand measures how
much the quantity demanded of one good responds
to the price of another good.
• The price elasticity of supply measures how much
the quantity supplied responds to changes in the
price. .
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Summary
• In most markets, supply is more elastic in the long
run than in the short run.
• The price elasticity of supply is calculated as the
percentage change in quantity supplied divided by
the percentage change in price.
• The tools of supply and demand can be applied in
many different types of markets.
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QUESTIONSFORREVIEW
1. Define the price elasticity of demand and the

income elasticity of demand.
2. List and explain the four determinants of the
price elasticity of demand discussed in the
chapter.
3. If the elasticity is greater than 1, is demand
elastic or inelastic? If the elasticity equals 0, is
demand perfectly elastic or perfectly inelastic?
4. On a supply-and-demand diagram, show
equilibrium price, equilibrium quantity, and the
total revenue received by producers.
yst_stm
QUESTIONSFORREVIEW
5. If demand is elastic, how will an increase

in price change total revenue? Explain.
6. What do we call a good whose income
elasticity is less than 0?
7. How is the price elasticity of supply
calculated? Explain what it measures.
8. Is the price elasticity of supply usually
larger in the short run or in the long run?
Why?
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PROBLEMS AND APPLICATIONS
1. For each of the following pairs of goods, which good would
you expect to have more elastic demand and why?
a. required textbooks or mystery novels
b. Beethoven recordings or classical music recordings in
general
c. subway rides during the next 6 months or subway rides
during the next 5 years
d. root beer or water
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2. Suppose the price elasticity of demand for heating oil is 0.2
in the short run and 0.7 in the long run.
a. If the price of heating oil rises from $1.80 to $2.20 per
gallon, what happens to the quantity of heating oil
demanded in the short run? In the long run? (Use the
midpoint method in your calculations.)
b. Why might this elasticity depend on the time horizon?
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3. Suppose that your demand schedule for compact discs is as follows:
a. Use the midpoint method to calculate your price elasticity of

demand as the price of compact discs increases from $8 to $10 if (i)
your income is $10,000 and (ii) your income is $12,000.
b. Calculate your income elasticity of demand as your income increases
from $10,000 to $12,000 if (i) the price is $12 and (ii) the price is
$16.
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4. You have the following information about good X and good
Y:
• Income elasticity of demand for good X: –3
• Cross-price elasticity of demand for good X with respect
to the price of good Y: 2
Would an increase in income and a decrease in the price of
good Y unambiguously decrease the demand for good X?
Why or why not?
yst_stm
5. Maria has decided always to spend one-third of her income
on clothing.
a. What is her income elasticity of clothing demand?
b. What is her price elasticity of clothing demand?
c. If Maria’s tastes change and she decides to spend only
one-fourth of her income on clothing, how does her
demand curve change? What is her income elasticity
and price elasticity now?
yst_stm
6. Beachfront resorts have an inelastic supply, and automobiles
have an elastic supply. Suppose that a rise in population
doubles the demand for both products (that is, the quantity
demanded at each price is twice what it was).
a. What happens to the equilibrium price and quantity in
each market?
b. Which product experiences a larger change in price?
c. Which product experiences a larger change in quantity?
d. What happens to total consumer spending on each
product?
yst_stm
7. Suppose the demand curve for a product is Q = 60/P.
Compute the quantity demanded at prices of $1, $2, $3, $4,
$5, and $6. Graph the demand curve. Use the midpoint
method to calculate the price elasticity of demand between
$1 and $2 and between $5 and $6. How does this demand
curve compare to the linear demand curve?
yst_stm

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4

Elasticity and Its Applications

Prof. Dr. Yunastiti Purwaningish, MP

• … is a measure of how much buyers and

• The price elasticity of demand is computed as the

Percentage change in quantity demanded

Percentage change in quantity demanded

• Example: If the price of an ice cream cone increases

Percentage change in quantity demanded

The value of E(Q,P) must always be negative, reflecting the fact

• The midpoint formula is preferable when

Demand is price elastic

• Because the price elasticity of demand measures

Elastis : > 1 ; inelastis : <1

Purwaningsih, Yunastiti. 2010. “Analisis Permintaan Pangan Pada Berbagai

• Most goods and services:

• Other Goods (durables):

Copyright © 2004 South-Western/Thomson Learning

Copyright © 2004 South-Western/Thomson Learning

People may put

Copyright © 2004 South-Western/Thomson Learning

Rokok : elastisitas harga adalah inelastis : P ↑ 1 %  Qd ↓ < 1%

Ep > 1 atau elastis  P dan TR bergerak dengan arah yang berlawanan

0 100 Quantity 0 80 Quantity

Ep < 1 atau inelastis  P dan TR bergerak dengan arah yang sama

Copyright©2003 Southwestern/Thomson Learning

An Increase in price from $4 … leads to an decrease in total

Revenue = $200 Revenue = $100

Ep > 1 atau elastis  P dan TR bergerak dengan arah yang berlawanan

Copyright©2003 Southwestern/Thomson Learning

• Income elasticity of demand measures how much

semakin tinggi income  Qd barang normal ↑

• Goods consumers regard as necessities tend to be

Purwaningsih, Yunastiti. 2010. “Analisis Permintaan Pangan Pada

• The price elasticity of supply is computed as the

Copyright © 2004 South-Western/Thomson Learning

• Ability of sellers to change the amount of the good

• Can good news for farming be bad news for

0 100 110 Quantity of

Copyright©2003 Southwestern/Thomson Learning

1. Define the price elasticity of demand and the

5. If demand is elastic, how will an increase

a. Use the midpoint method to calculate your price elasticity of

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