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Talk:Price elasticity of demand/GA1

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GA Review

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GA review – see WP:WIAGA for criteria


This is my first GA review, so please bear with me.

  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
      • Elasticity used to show responsiveness? Might be good to clarify within the article.
    • Price elasticity is almost always negative, although analysts tend to ignore the sign even though this can lead to ambiguity.
      • If PED is a concept, isn't the value of price elasticity always negative, but not the concept itself. Make this more clear.
    • 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
      • Would be best as two sentences.
    • Clearly, the greater the curve of the demand curve within that segment, the worse the approximation
      • 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.
    • 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.
      • Confusing, what are you trying to say?
    • Hence, to maximise revenue, a firm ought to operate close to its unit-elasticity price
      • 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.
  2. Is it factually accurate and verifiable?
    A. References to sources:
    B. Citation of reliable sources where necessary:
    C. No original research:
    See prose concerns
  3. Is it broad in its coverage?
    A. Major aspects:
    Hits all the major points
    B. Focused:
    Deals with important aspects specifically.
  4. Is it neutral?
    Fair representation without bias:
    No Keynesian bias here ;)
  5. Is it stable?
    No edit wars, etc:
  6. 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:
    It meets the requirements, but it would be good if you added WP:ALTTEXT.
  7. 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)[reply]

Responses

[edit]
    • 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
      • Elasticity used to show responsiveness? Might be good to clarify within the article.
        • Reworded, not sure if it solves you query...?
    • Price elasticity is almost always negative, although analysts tend to ignore the sign even though this can lead to ambiguity.
      • If PED is a concept, isn't the value of price elasticity always negative, but not the concept itself. Make this more clear.
        • Reworded.
    • 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
      • Would be best as two sentences.
        • If you think so, changed.
    • Clearly, the greater the curve of the demand curve within that segment, the worse the approximation
      • 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.
        • Never was happy with that. Clearly => explanation of why.
    • 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.
      • Confusing, what are you trying to say?
        • 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?
    • Hence, to maximise revenue, a firm ought to operate close to its unit-elasticity price
      • More psuedo conclusion sounding. Maybe rewording would help.
        • 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)[reply]