Week Date: Class # and Assignment Information #13 Topic Monday, Class #21 ILA #9 Part One: videos & questions is due at 8:00 ILA #10 is open. Part One is due at 8:00 am on 4/24 April 17 Elasticity am. The assignment has been open for one week. and Part Two is due at 5:00 pm on 4/28. See posted on Blackboard under Modules Wednesday, Class #22 Are you taking advantage of my office hours? Of April 19 Elasticity See posted on Blackboard under Modules Homework Help? Friday, Class #23 ILA #9 Part Two: assignment is ILA #10 is open. Part One is due at 8:00 am on 4/24 LearnSmart Achieve April 21 Other due today at 5:00 pm. This assignment has been and Part Two is due at 5:00 pm on 4/28. Elasticity open for 11 days. Measures Learning Objectives for Elasticity - week #13: Define elasticity and its role in economics. Calculate the price elasticity of demand. Define the midpoint formula and describe the reasoning behind its use. Interpret the numerical found by calculating the price elasticity of demand for a good or service. Explain why the elasticity of demand changes along a linear demand curve. Use the elasticity of demand to determine how revenue will change in response to a change in price. Predict how the number of substitutes or the proportion of income spent on a good or service will affect the elasticity of demand. Calculate the elasticity of demand for both substitutes and complements and interpret the results. Calculate the income elasticity of demand and determine whether the good or service is normal or inferior. Calculate the price elasticity of supply. Interpret the numerical value found by calculating the price elasticity of supply for a good or service. Contrast the elasticity of supply in the immediate period, run, and long ru
Week #13 Date: Class # and Topic Assignment Information Monday, April 17 Class #21 Elasticity ILA #9 Part One: videos & questions is due at 8:00 am. The assignment has been open for one week. See posted on Blackboard under Modules ILA #10 is open. Part One is due at 8:00 am on 4/24 and Part Two is due at 5:00 pm on 4/28. Wednesday, April 19 Class #22 Elasticity See posted on Blackboard under Modules Are you taking advantage of my office hours? Of Homework Help? Friday, April 21 Class #23 Other Elasticity Measures ILA #9 Part Two: LearnSmart Achieve assignment is due today at 5:00 pm. This assignment has been open for 11 days. ILA #10 is open. Part One is due at 8:00 am on 4/24 and Part Two is due at 5:00 pm on 4/28. Learning Objectives for Elasticity - week #13: Define elasticity and its role in economics. Calculate the price elasticity of demand. Define the midpoint formula and describe the reasoning behind its use. Interpret the numerical found by calculating the price elasticity of demand for a good or service. Explain why the elasticity of demand changes along a linear demand curve. Use the elasticity of demand to determine how revenue will change in response to a change in price. Predict how the number of substitutes or the proportion of income spent on a good or service will affect the elasticity of demand. Calculate the elasticity of demand for both substitutes and complements and interpret the results. Calculate the income elasticity of demand and determine whether the good or service is normal or inferior. Calculate the price elasticity of supply. Interpret the numerical value found by calculating the price elasticity of supply for a good or service. Contrast the elasticity of supply in the immediate period, run, and long ru
econ_2302_sp17_doty.docx