Economics – 10/10/19

I. Bellwork

Berry Mart sold Takis for .50 and the quantity sold was 40 bags.  BerryMart raised the price to .55 and sold 35 bags. 

A.  Using the total revenue test determine elasticity.  (SHOW YOUR WORK)

B.  Using the price elasticity of demand formula determine elasticity. (SHOW YOUR WORK)

II. Objectives

• Apply tests to determine elasticity based upon information provided
• Review concepts and principles relating to demand, quantity demand, and elasticity of demand to address questions

III.  Classwork – Turn in Today – No excuses

A. Page 112 Questions & Answers 17-24 

• Do not write the question for #21
• When a question asks you to describe, you need to describe.
  

IV.  Chapter 4 Test on Monday – No notes

V.  Things to Review:

A.  Demand Curve Flash Cards

B.  Your iLearn Quizzes  (I will open them from you to review on Friday)

C:  Kahoot Review

D.  Your Notes:

• Change in Quantity Demand & Change in Demand-1
• Brace Map Change in Quantity Demand
• Determinants of Demand
• Demand Schedule & Demand Curve – Figure 4.1 (Notebook)
• Elasticity Tests

IV.   Chapter-4-Review– Extra credit due Monday (must be complete)

Economics F2019