Talk:Price elasticity of demand/GA1

GA Review

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GA review – see WP:WIAGA for criteria

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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 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)

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
     • 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)