Current Events:
You will need the "Two Figures" for the upcoming attraction (Chapter 4 Test) on Monday. The "Two Figures" are available on Dabbleboard as Figure 4.1; and, another one can be viewed as Figure 4.7.
Chapter 5 Elasticity
The concept of elasticity is thoroughly covered in this chapter, from the definition, to the calculation, and finally to the application. Price elasticity of demand is covered first, followed by income and price elasticities. The price elasticity of supply is covered, and the chapter concludes with an analysis of tax burdens based on differences in the price elasticities of demand and supply.
Chapter Five (Continue): Powerpoint Lecture
HW: gmsmith@shanahan.org
Chapter 5 Elasticity
1. Define the second column of "Key Concepts," after Cross elasticity of Demand, p. 133;
2. Study for Chapter Four Test on Monday (40 Multiple-Choice questions);
3. You will need the "Two Figures" for the upcoming attraction (Chapter 4 Test) on Monday. The "Two Figures" are available on Dabbleboard as Figure 4.1; and, another one can be viewed as Figure 4.7.
