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.
- Determine Marco’s Total Revenue before and after the price change.
- 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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