Talk:Price elasticity of demand/GA1

GA Review
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GA review – see WP:WIAGA for criteria


 * 1) Is it reasonably well written?
 * A. Prose quality:
 * *Price elasticity of demand (PED) is the concept in the history of economics elasticity used to show the responsiveness of the quantity demanded of a good or service to a change in its price
 * 1) **Elasticity used to show responsiveness? Might be good to clarify within the article.
 * 2) *Price elasticity is almost always negative, although analysts tend to ignore the sign even though this can lead to ambiguity.
 * 3) **If PED is a concept, isn't the value of price elasticity always negative, but not the concept itself. Make this more clear.
 * 4) *Revenue is maximised when price is set so as to create a PED of exactly one; PEDs can also be used to predict the incidence of tax
 * 5) **Would be best as two sentences.
 * 6) *Clearly, the greater the curve of the demand curve within that segment, the worse the approximation
 * 7) **Reads like an essay drawing from the previous information to form a synthesis. I'm not sure how to rephrase it, but some sort of rephrasing would be good.
 * 8) *Using this method, the PEDs for various goods are as follows. For suggestions on why the goods may have the PED shown, see the section on determinants above.
 * 9) **Confusing, what are you trying to say?
 * 10) *Hence, to maximise revenue, a firm ought to operate close to its unit-elasticity price
 * 11) **More psuedo conclusion sounding. Maybe rewording would help.
 * B. MoS compliance:
 * I'm certainly not very familiar with WP:MOS, but after looking through it I didn't see anything major. Be consistent with your capitalization under the Determinants section though.
 * 1) Is it factually accurate and verifiable?
 * A. References to sources:
 * B. Citation of reliable sources where necessary:
 * C. No original research:
 * 1) Is it broad in its coverage?
 * A. Major aspects:
 * B. Focused:
 * 1) Is it neutral?
 * Fair representation without bias:
 * 1) Is it stable?
 * No edit wars, etc:
 * 1) Does it contain images to illustrate the topic?
 * A. Images are copyright tagged, and non-free images have fair use rationales:
 * B. Images are provided where possible and appropriate, with suitable captions:
 * 1) Overall:
 * Pass or Fail:
 * Mostly prose work. Also, you never defined Ed, so do that.  Additionally, why are the products in the last section listed, and not others.  Is there any other significance?
 * 1) Does it contain images to illustrate the topic?
 * A. Images are copyright tagged, and non-free images have fair use rationales:
 * B. Images are provided where possible and appropriate, with suitable captions:
 * 1) Overall:
 * Pass or Fail:
 * Mostly prose work. Also, you never defined Ed, so do that.  Additionally, why are the products in the last section listed, and not others.  Is there any other significance?
 * 1) Overall:
 * Pass or Fail:
 * Mostly prose work. Also, you never defined Ed, so do that.  Additionally, why are the products in the last section listed, and not others.  Is there any other significance?

Reviewer: NativeForeigner Talk/Contribs/Vote! 02:15, 1 April 2010 (UTC)

Responses

 * 1) *Price elasticity of demand (PED) is the concept in the history of economics elasticity used to show the responsiveness of the quantity demanded of a good or service to a change in its price
 * 2) **Elasticity used to show responsiveness? Might be good to clarify within the article.
 * 3) ***Reworded, not sure if it solves you query...?
 * 4) *Price elasticity is almost always negative, although analysts tend to ignore the sign even though this can lead to ambiguity.
 * 5) **If PED is a concept, isn't the value of price elasticity always negative, but not the concept itself. Make this more clear.
 * 6) ***Reworded.
 * 7) *Revenue is maximised when price is set so as to create a PED of exactly one; PEDs can also be used to predict the incidence of tax
 * 8) **Would be best as two sentences.
 * 9) ***If you think so, changed.
 * 10) *Clearly, the greater the curve of the demand curve within that segment, the worse the approximation
 * 11) **Reads like an essay drawing from the previous information to form a synthesis. I'm not sure how to rephrase it, but some sort of rephrasing would be good.
 * 12) ***Never was happy with that. Clearly => explanation of why.
 * 13) *Using this method, the PEDs for various goods are as follows. For suggestions on why the goods may have the PED shown, see the section on determinants above.
 * 14) **Confusing, what are you trying to say?
 * 15) ***That readers interested in why e.g. rice in Japan might have such a different PED to rice in China should check the determinants section above?
 * 16) *Hence, to maximise revenue, a firm ought to operate close to its unit-elasticity price
 * 17) **More psuedo conclusion sounding. Maybe rewording would help.
 * 18) ***Maybe the (lack of a) linebreak was confusing? It's a conclusion Arnold draws, anyhow.


 * Also, you never defined Ed, so do that. Additionally, why are the products in the last section listed, and not others.  Is there any other significance?


 * Done (lead); explanation added. They're just (interesting) examples.

And some of your other comments have been responded to. I'm hesitant to add ALT-text until that guideline settles down a bit. - Jarry1250 [Humorous? Discuss.] 16:48, 1 April 2010 (UTC)