ELASTISITAS DAN SENSITIVITAS DEMAND

Mata Kuliah: Ekonomi Transportasi

Budi Yulianto, ST, MSc, PhD Fakultas Teknik - Universitas Sebelas Maret Surakarta - Indonesia

PENDAHULUAN

Fungsi demand mengasumsikan tingkat dan distribusi tertentu dari income, populasi, dan karakteristik sosial ekonomi tertentu. Demand dipengaruhi oleh: harga/tarif; harga barang/jasa pengganti, selera atau kebiasaan yg berubah; perubahan tingkat pendapatan dan distribusinya; jumlah dan perubahan struktur penduduk. Secara umum, demand perjalanan pada berbagai tingkat harga untuk kondisi linier bisa digambarkan dalam persamaan: q = .p q = jumlah permintaan perjalanan p = harga , = parameter permintaan (konstan)

ELASTISITAS DEMAND

Elastisitas demand (ed) menggambarkan tingkat sensitivitas demand yg diakibatkan oleh perubahan harga. ed = persentase perubahan jumlah demand perjalanan akibat perubahan harga sebesar 1% ed = q/q = q x p p/p p q q adalah perubahan jumlah perjalanan akibat perubahan harga p

Arc Formula for Elasticity

Although the exact formula for calculating an elasticity is useful for theory, in practice economists usually calculate an approximation called the Arc Elasticity. You are really approximating the elasticity between two points. Need two points to perform the calculation.

Arc price elasticity:

ed = q/q = q x p p/p p q

= Q1 Q0 (P1 + P0)/2 P1 P0 (Q1 + Q0)/2 where: Q1 and Q0 represent the quantity of travel demanded corresponding to price P0 and P1, respectively. For a linear demand function, the elasticity with respect to price can be determined by: ed = 1 - /q

Example 1
An aggregate demand function is represented by: q = 200 10p Where: q is the number of trip, p is the price per trip Find: the price elasticity of demand when q = 0, 50, 100, 150, 200 trips corresponding to p = 20, 15, 10, 5, 0 cents

Solution 1
Eq: ed = 1 - /q ed = 1 - 200/200 = 0 ed = 1 - 200/100 = -1 ed = 1 - 200/0
20 15 Price (p) 10 5 0 50 100 150 (e=-~) 3 1 0.133 0 200 Volume (q)

where: = 200 ed = 1 - 200/150 = -0.133 ed = 1 - 200/50 = -3

When the price/trip is 20 cents, no trip are made.
q = 200 -10p

= -~
When nothing is charged/trip, 200 trips are made. Price elasticity for this transportation system varies from 0 to ~, with unit elasticity when p = 10

ELASTISITAS DEMAND FUNGSI LINIER

Fungsi demand: q = .p
/ Harga (p)
Elastis sempurna (e=-~)
Meaning the resulting % change in quantity of trip making will be larger than the % change in price. In this case, demand is relatively sensitive to price change.

Daerah elastis

Titik elastis (e=-1)

Daerah tak elastis

Tak elastis sempurna (e=0)

Volume (q) 0 /2

Kemiringan garis konstan, tetapi elastis berubah dari ~ hingga 0. Makin kearah bawah kurva, makin tidak elastis. Besar elastisitas pada suatu titik tertentu disepanjang kurva, besarnya adalah panjang segmen kurva dibawah titik tersebut dibagi dengan panjang segmen diatasnya.

Elastic Economic Relations

When an elasticity is large (greater than 1 in absolute value), we call the relation that it describes Elastic.

Elastic demand means that the quantity demanded is sensitive to the price. Elastic supply means that the quantity supplied is sensitive to the price.

Demand elastic: jika total revenue (hasil/pendapatan) berlawanan arah dengan perubahan harga/faktor yg mempengaruhi permintaan, dan e>1. Misal: Keperluan tidak mendesak, banyak pengganti yg sejenis, barang tahan lama dan dapat diperbaiki, mempunyai beragam kegunaan.

Inelastic Economic Relations

When an elasticity is small (between 0 and 1 in absolute value), we call the relation that it describes Inelastic.

Inelastic demand means that the quantity demanded is not very sensitive to the price. Inelastic supply means that the quantity supplied is not very sensitive to the price.

Demand inelastic: jika total revenue (hasil/pendapatan) bergerak searah dengan perubahan harga/faktor yg mempengaruhi permintaan, maka e<1. Misal: Substitusi yang baik tidak tersedia, sangat diperlukan sekali, barang/jasa merupakan komplementer (co: beli mobil perlu bensin).

Unit Elastic

Demand elastisitas unitair: total revenue tidak terpengaruh oleh perubahan harga/faktor. Merupakan borderline case antara demand elastis dan demand tak elastis. Naikturunnya harga/faktor diimbangi oleh perubahan kwantitas secara proporsional, sehingga revenue total tidak berubah.

Size of Price Elasticities

Unit elastic Inelastic
0 1 2 3 4 5

Elastic
6

Elastic: own price elasticity greater than 1 Unit elastic: own price elasticity equal to 1 Inelastic: own price elasticity less than 1

Using Demand Elasticity: Total Expenditures

Do the total expenditures on a product go up or down when the price increases? The price increase means more spent for each unit. But, quantity demanded declines as price rises. So, we must measure the measure the price elasticity of demand to answer the question.

Bridge Toll Example 2a

Current toll for the George Washington Bridge is $2.00/trip. Suppose the quantity demanded at $2.00/trip is 100,000 trips/hour. If the price elasticity of demand for bridge trips is 2.0. What is the effect of a 10% toll increase?

Bridge Toll: Elastic Demand

Price elasticity of demand = 2.0 Toll increase of 10% implies a 20% decline in the quantity demanded. Trips fall to 80,000/hour (=100,000-20,000). Total expenditure falls to $176,000/hour (=80,000 x $2.20). $176,000 < $200,000, the revenue from a $2.00 toll.

Bridge Toll Example 2b

Now suppose the elasticity of demand for bridge trips is 0.5. How would the number of trips and the expenditure on tolls be affected by a 10% increase in the toll?

Bridge Toll: Inelastic Demand

Price elasticity of demand = 0.5 Toll increase of 10% implies a 5% decline in the quantity demanded. Trips fall to 95,000/hour (=100,000-5,000). Total expenditure rises to $209,000/hour (= 95,000x$2.20). $209,000 > $200,000, the revenue from a $2.00 toll.

Elasticity and Total Expenditure (Graph)

At the point M, the demand curve is unit elastic. M is the midpoint of this linear demand curve Above M, demand is elastic, so total expenditure falls as the price rises Below M, demand is inelastic. so total expenditure falls as price falls. Total expenditure is maximized at the point M, where the elasticity = 1.

Price

Elasticity > 1: Price reduction increases total expenditure; price increase reduces it. Elasticity = 1: Total expenditure is at a maximum Elasticity < 1: Price reduction reduces total expenditure; price increase increases it.

Quantity

Change in Expenditure Components

Old (price, quantity) is (P,Q). New (price, quantity) is (P*,Q*). Expenditures increase if G is bigger than E. Since the point (P,Q) is above the midpoint of the linear demand curve, we know that total expenditures will increase at the lower price (P*,Q*). So, E must be smaller than G.

Price

P P*

G Demand

Q*

Quantity

Some Technical Definitions For Extreme Elasticity Values

Economists use the terms perfectly elastic (elastis sempurna) and perfectly inelastic (elastis tak sempurna) to describe extreme values of price elasticities. Perfectly elastic means the quantity (demanded or supplied) is as price sensitive as possible. Perfectly inelastic means that the quantity (demanded or supplied) has no price sensitivity at all.

Perfectly Elastic Demand

We say that demand is perfectly elastic when a 1% change in the price would result in an infinite change in quantity demanded.

Price

Perfectly Elastic Demand (elasticity = )

Quantity

Perfectly Inelastic Demand

We say that demand is perfectly inelastic when a 1% change in the price would result in no change in quantity demanded.

Price

Perfectly Inelastic Demand (elasticity = 0)

Quantity

Perfectly Elastic Supply

We say that supply is perfectly elastic when a 1% change in the price would result in an infinite change in quantity supplied.

Price

Perfectly Elastic Supply (elasticity = )

Quantity

Perfectly Inelastic Supply

We say that supply is perfectly inelastic when a 1% change in the price would result in no change in quantity supplied.

Price

Perfectly Inelastic Supply (elasticity = 0)

Quantity

Example 3
When bus ticket price was $5, the number of bus passenger was 20 persons per day. Since the price has risen to $6, the demand has fallen to 16 persons per day. What is the elasticity of demand over this range of prices?

Solution 3
Arc price elasticity ed = Q1 Q0 (P1 + P0)/2 P1 P0 (Q1 + Q0)/2 = (16 20) (6 + 5)/2 = -4 (5.5) = -1.22 (6 5) (16 + 20)/2 1 (18) (elastic)

FAKTOR-FAKTOR YG BERPENGARUH PADA ELASTISITAS DEMAND

1. Elastisitas Pendapatan (Income Elasticities) ei = (% perubahan jumlah permintaan) (% perubahan pendapatan)

Barang normal (ei>0), permintaan meningkat seiring dengan peningkatan pendapatan konsumen. Barang superior (ei>1), permintaan meningkat seiring dengan peningkatan pendapatan konsumen serta alokasi income untuk barang tsb juga meningkat. Barang inferior, permintaan menurun ketika pendapatan konsumen meningkat. Mobil merupakan barang superior, sedangkan membeli tiket kendaraan umum untuk bepergian merupakan barang inferior.

2. Elastisitas Harga (Price Elasticity) In general, consumers by more than otherwise good when the price goes down and buy less than otherwise when the price goes up. Some factors that affect price elasticity as follows:

If a consumer spends a substantial % of income on transportation, the more willing will he or she be to search hard for a substitute if the price of transportation goes up. [Semakin besar alokasi pendapatan untuk suatu barang, maka kecenderungan untuk mencari barang substitusi makin besar].

The narrower the definition of a good, the more substitutes the good is likely to have, and thus the more elastic its demand will be. For example, the demand for BMW is more elastic than demand for automobiles, and the demand for automobiles is more elastic than the demand for transportation. [Semakin terbatas definisi suatu barang , semakin banyak barang sebagai penggantinya, maka permintaan semakin elastis] (BMW > Mobil > Transportasi)

If consumers find out that the price and availability of substitutes are easy, the more elastic the demand will be. Advertising plays an important role in making available substitutes to consumers. In the same context, the more time consumers have to finds substitutes, the more elastic demand becomes. [Semakin besar pengetahuan pasar seorang konsumen atas suatu barang, maka permintaan akan lebih elastis].

Those goods that consumers consider to be necessities usually have inelastic demands, whereas goods considered by consumers to be luxurious usually have elastic demands. Eyeglass for a consumer are a necessary good, with few substitutes, whereas vacation trip to UK is a luxury good with several substitutes. [Barang yang merupakan kebutuhan utama, biasanya permintaannya tidak elastis].

3. Elastisitas dan Total Pendapatan (Elasticity and Total Revenue)

Besar total pendapatan (= harga x jumlah output) bila terjadi perubahan harga pada unit barang adalah: e = (% perubahan jumlah permintaan) (% perubahan harga)

e>1, hubungan harga dgn revenue adalah negatif (demand elastic) H naik R turun, H turun R naik. e<1, hubungan harga dan revenue adalah positif (demand inelastic) H naik R naik, H turun R turun. e=1, total pendapatan tetap, meskipun harga naik turun.

Example 4
A bus companys linear demand curve is P = 10 0.05Q, where P is the price of a one-way ticket, and Q is the number of tickets sold per hour. Determine the total revenue along the curve.

Solution 4
P = 10 0.05Q $10 P ($) P = 10 0.05Q R = QP = Q(10 0.05Q) = 10Q 0.05Q2 dR/dQ = 10 (0.05 x 2)Q 0 $500 Total Revenue 200 Q (Tickets) And this is = 0 when R is maximum Therefore: Q = 100 when R is $500 (maximum)

R = 10Q 0.05Q2

Starting from a price of $10 at near 0 ticket sold and decreasing the price eventually to half ($5), the revenue steadily increases to a maximum of $500/hrs (over the elastic portion). After that, the revenue decreases as the price further decreases and finally approaches near 0, when the demand approaches 200 (over the inelastic portion)

100

200

Kraft Demand Model

The demand function for situation where the elasticity of demand for travel with respect to its price is essentially Constant: Q = (p) Where and are constant parameters of the demand function.

Example 5
The elasticity of transit demand with respect to price has been found to be equal to -2.75, which means that a 1% increase in transit fare will result in a 2.75 decrease number of passengers using the system. A transit line on this system carries 12,500 passengers per day, charging 50 cents per ride. The management wants to raise the fare to 70 cents per ride. What advice would you offer to management?

Solution 5
Q = (P) 12,500 = (50)-2.75 Q = 5.876 x 108 x P-2.75 An increase in fare from 50 to 70 cents will attract a demand of Q = 5.876 x 108 x (70)-2.75 = 4,955 Therefore to increase in fare from 50 to 70 cents (a 40% increase) is likely to reduce the patronage on this line from 12,500 passengers per day to 4,955 (a decrease 60.36%). In terms of revenue, the results are as follows: 50 cents/rider x 12,500 passengers = $6,250 70 cents/rider x 4,955 passengers = $3,468.5 Loss in revenue = $2,781 = 12,500 x (50)
2.75

= 5.876 x 108

Discussion: In general, it has been observed that when the price is Elastic (-2.75), raising the unit price will result in Loss, but lowering price will result in total Gain. The converse is always true; if the price is Inelastic, raising the unit price will result in total Gain, whereas lowering the unit price will result in total Loss.
Old Fare ($ cent) Old Demand (Qo) New fare ($ cent) New Demand (Qn) 70 4,955 60 7,571 50 12,500 12,500 40 23,090 30 50,933 20 155,328 10 1,044,917 Revenue Old Fare ($) New Fare ($) Loss or Gain Revenue $2,781 $6,250 $3,469 $1,707 $6,250 $4,543 $0 $6,250 $6,250 -$2,986 $6,250 $9,236 -$9,030 $6,250 $15,280 -$24,816 $6,250 $31,066 -$98,242 $6,250 $104,492

50

Thanks you..