A, The price of Coca-Cola increased. Construct the necessary graphs and demonstrate with arrows what will happen to each demand curve:
- The impact on the Coca-Cola demand curve
- The impact on the Pepsi demand curve
- Identify and analyze factors that influence demand elasticity.
- Review and discuss concepts and principles relating to changes in demand and Qd
- Integrate and evaluate multiple sources of information presented in diverse formats in order to determine demand elasticity or inelasticity.
III. Turn in Homework
A. Elasticity Video – Copy examples of Elasticity graphs
B. Elasticity PPT on iLearn
- Elasticity Formula
- Total Revenue Test – Brace Map
- Questions to Determine Elasticity
V. Retake of 3.1 & 3.2 Quiz