Talk:Price elasticity of demand/GA1

GA Review

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GA review – see WP:WIAGA for criteria

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

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.
Is it factually accurate and verifiable?
A. References to sources:

B. Citation of reliable sources where necessary:

C. No original research:
See prose concerns
Is it broad in its coverage?
A. Major aspects:
Hits all the major points

B. Focused:
Deals with important aspects specifically.
Is it neutral?
Fair representation without bias:
No Keynesian bias here ;)
Is it stable?
No edit wars, etc:
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.
Overall:
Pass or Fail:
Mostly prose work. Also, you never defined E_d, 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

- 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 E_d, 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]