Dp = -15% | Dp = -20% | Dp = -25% | ||||
Basic Rate Calculation (1993 $billions) | ||||||
e = -1.0 | 15.8 | 21.6 | 27.6 | |||
e = -1.5 | 16.4 | 22.6 | 29.1 | |||
e = -2.0 | 16.9 | 23.6 | 30.7 | |||
e = -2.5 | 17.5 | 24.5 | 32.2 | |||
Average Revenue Calculation (1993 $billions) | ||||||
e = -1.0 | 29.3 | 40.0 | 51.2 | |||
e = -1.5 | 30.4 | 41.8 | 54.0 | |||
e = -2.0 | 31.4 | 43.7 | 56.8 | |||
e = -2.5 | 32.4 | 45.5 | 59.7 |
Dp, decline in prices; e, elasticity.