{"id":16112,"date":"2018-10-04T00:31:48","date_gmt":"2018-10-04T04:31:48","guid":{"rendered":"http:\/\/iblog.dearbornschools.org\/farhoud\/?p=16112"},"modified":"2018-10-04T14:48:02","modified_gmt":"2018-10-04T18:48:02","slug":"ap-economics-10-04-18","status":"publish","type":"post","link":"https:\/\/iblog.dearbornschools.org\/farhoud\/2018\/10\/04\/ap-economics-10-04-18\/","title":{"rendered":"AP Economics &#8211; 10\/04\/18"},"content":{"rendered":"<p><b>I. \u00a0Bellwork (Show Your calculations)<\/b><\/p>\n<p><b>The local smoothie shop sells smoothies for $6.00 each. Doing so, they have sold 1500 smoothies a week for the past year. athey decides to raise his price to $6.90 and sees the sales of smoothies drop to 1200 per week.<\/b><\/p>\n<p>&nbsp;<\/p>\n<p>A.\u00a0 Using the midpoint formula, calculate the elasticity of demand for smoothies and determine whether it is elastic, inelastic, or unit elastic.<\/p>\n<p>B.\u00a0 Using the total revenue test determine the elasticity of demand.<\/p>\n<p><b>II.\u00a0 Objectives: \u00a0<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Measure the responsiveness of demand to changes in the prices of substitutes and complements<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Analyze how normal and inferior goods are impacted by income elasticity of demand.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Explain the significance of the price elasticity of supply and identify situations the influence supply elasticity.<\/span><\/li>\n<li>Evaluate various explanations for changes in elasticity and determine which explanation best accords with textual evidence,<\/li>\n<\/ul>\n<p><b>III. \u00a0Discussion: \u00a0Other Price Elasticities Pages 477-482<\/b><\/p>\n<p><span style=\"font-weight: 400;\">A.\u00a0 Cross Price Elasticity &#8211; Substitutes and Complements<\/span><\/p>\n<p><span style=\"font-weight: 400;\">B.\u00a0 Income Elasticity of Demand<\/span><\/p>\n<ul>\n<li><span style=\"font-weight: 400;\">+Normal Good<\/span><\/li>\n<li><span style=\"font-weight: 400;\">-Inferior Good<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Income elastic &gt;+1<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Income inelastic &lt;1<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">C.\u00a0 Price Elasticity of Supply<\/span><\/p>\n<ol>\n<li><span style=\"font-weight: 400;\">\u00a0Determinants of Supply Elasticity <\/span><\/li>\n<\/ol>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Availability of Inputs<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Time<\/span><\/li>\n<\/ul>\n<p><strong>IV.\u00a0 Notebook P 482 Table 48.1<\/strong><\/p>\n<p><strong>V.\u00a0Classwork<\/strong><\/p>\n<ul>\n<li><span style=\"font-weight: 400;\">Page 483 1-3 show work and 1-5 Q&amp;A<\/span><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>I. \u00a0Bellwork (Show Your calculations) The local smoothie shop sells smoothies for $6.00 each. Doing so, they have sold 1500 smoothies a week for the past year. athey decides to raise his price to $6.90 and sees the sales of smoothies drop to 1200 per week. &nbsp; A.\u00a0 Using the midpoint formula, calculate the elasticity [&hellip;]<\/p>\n","protected":false},"author":176,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[89],"tags":[],"class_list":["post-16112","post","type-post","status-publish","format-standard","hentry","category-ap-economics"],"_links":{"self":[{"href":"https:\/\/iblog.dearbornschools.org\/farhoud\/wp-json\/wp\/v2\/posts\/16112","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/iblog.dearbornschools.org\/farhoud\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/iblog.dearbornschools.org\/farhoud\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/iblog.dearbornschools.org\/farhoud\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/iblog.dearbornschools.org\/farhoud\/wp-json\/wp\/v2\/comments?post=16112"}],"version-history":[{"count":0,"href":"https:\/\/iblog.dearbornschools.org\/farhoud\/wp-json\/wp\/v2\/posts\/16112\/revisions"}],"wp:attachment":[{"href":"https:\/\/iblog.dearbornschools.org\/farhoud\/wp-json\/wp\/v2\/media?parent=16112"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/iblog.dearbornschools.org\/farhoud\/wp-json\/wp\/v2\/categories?post=16112"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/iblog.dearbornschools.org\/farhoud\/wp-json\/wp\/v2\/tags?post=16112"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}