Economics – 10/18/13

I.  Bellwork

Marco’s subs sells 400 sub sandwiches a week at a price of $5.00 each.  Marco soon raises the price to $5.50 and is able to sell 380 sub sandwiches for the week.

  1. Determine Marco’s Total Revenue before and after the price change.
  2. Based upon the test determine if demand is elastic or inelastic and explain why.

II.  Objective:

  • Assess student understanding and application of concepts pertaining to the economic principle of demand.
  • Evaluate various explanations for actions or events and determine which explanation best accords with textual evidence.

III. Turn in your Review Sheet

IV. Turn in Your Notebooks

 V.   Classwork

  • Page 112 #17- #22 Q&A

VI. Chapter 4 Exam

 


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