{"id":17644,"date":"2019-09-29T22:31:05","date_gmt":"2019-09-30T02:31:05","guid":{"rendered":"https:\/\/iblog.dearbornschools.org\/farhoud\/?p=17644"},"modified":"2019-09-30T08:37:49","modified_gmt":"2019-09-30T12:37:49","slug":"ap-economics-9-30-19","status":"publish","type":"post","link":"https:\/\/iblog.dearbornschools.org\/farhoud\/2019\/09\/29\/ap-economics-9-30-19\/","title":{"rendered":"AP Economics &#8211; 9\/30\/19"},"content":{"rendered":"\n<p><strong>I<\/strong>.&nbsp; Bellwork (Show Your calculations)<\/p>\n\n\n\n<p>The local smoothie shop sells smoothies for $6.00 each. Doing so, they have sold 1500 smoothies a week for the past year. The shop decides to raise the price to $6.90 and  the sales of smoothies drop to 1200 per week.<\/p>\n\n\n\n<p>A.&nbsp; Using the midpoint formula, calculate the elasticity of demand for smoothies and determine whether it is elastic, inelastic, or unit elastic.<\/p>\n\n\n\n<p>B.&nbsp; Using the total revenue test determine the elasticity of demand.<\/p>\n\n\n\n<p>II.&nbsp; Objectives:&nbsp;&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Measure the responsiveness of demand to changes in the prices of substitutes and complements<\/li><li>Analyze how normal and inferior goods are impacted by income elasticity of demand.<\/li><li>Explain the significance of the price elasticity of supply and identify situations the influence supply elasticity.<\/li><li>Evaluate various explanations for changes in elasticity and determine which explanation best accords with textual evidence,<\/li><\/ul>\n\n\n\n<p>III.&nbsp; Discussion:&nbsp; Other Price Elasticities Pages 477-482<\/p>\n\n\n\n<p>A.&nbsp; <a href=\"https:\/\/www.youtube.com\/watch?v=phZBFbsBaS0\">Cross Price Elasticity<\/a> \u2013 Substitutes and Complements<\/p>\n\n\n\n<p>B.&nbsp; <a href=\"https:\/\/www.youtube.com\/watch?v=Tct2EmT9iNE\">Income Elasticity of Demand<\/a><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>+Normal Good<\/li><li>-Inferior Good<\/li><li>Income elastic &gt;+1<\/li><li>Income inelastic &lt;1<\/li><\/ul>\n\n\n\n<p>C.&nbsp; <a href=\"https:\/\/www.youtube.com\/watch?v=4cHWVRsta3U\">Price Elasticity of Supply<\/a><\/p>\n\n\n\n<ol class=\"wp-block-list\"><li>&nbsp;Determinants of Supply Elasticity<\/li><\/ol>\n\n\n\n<ul class=\"wp-block-list\"><li>Availability of Inputs<\/li><li>Time<\/li><\/ul>\n\n\n\n<p><a href=\"https:\/\/www.youtube.com\/watch?v=QLMJDo9dck0\">Elasticity of Demand and Supply Coefficients- Micro Topic 2.4 and 2.5<\/a><\/p>\n\n\n\n<p>IV.&nbsp; Notebook P 482 Table 48.1<\/p>\n\n\n\n<p>V. Classwork<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Page 483 1-3 show work and 1-5 Q&amp;A<\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"<p>I.&nbsp; Bellwork (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. The shop decides to raise the price to $6.90 and the sales of smoothies drop to 1200 per week. A.&nbsp; Using the midpoint formula, calculate the elasticity of [&hellip;]<\/p>\n","protected":false},"author":176,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[95],"tags":[],"class_list":["post-17644","post","type-post","status-publish","format-standard","hentry","category-ap-micro-economics-f2019"],"_links":{"self":[{"href":"https:\/\/iblog.dearbornschools.org\/farhoud\/wp-json\/wp\/v2\/posts\/17644","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=17644"}],"version-history":[{"count":2,"href":"https:\/\/iblog.dearbornschools.org\/farhoud\/wp-json\/wp\/v2\/posts\/17644\/revisions"}],"predecessor-version":[{"id":17651,"href":"https:\/\/iblog.dearbornschools.org\/farhoud\/wp-json\/wp\/v2\/posts\/17644\/revisions\/17651"}],"wp:attachment":[{"href":"https:\/\/iblog.dearbornschools.org\/farhoud\/wp-json\/wp\/v2\/media?parent=17644"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/iblog.dearbornschools.org\/farhoud\/wp-json\/wp\/v2\/categories?post=17644"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/iblog.dearbornschools.org\/farhoud\/wp-json\/wp\/v2\/tags?post=17644"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}