Menu_09_Feb_11

Menu_09_Feb_11 - i. Price discrimination ii. Examples e....

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
TODAY’S MENU: Wednesday 09 February 2011 I. BUSINESS A . Practice Problems 1. Chapter 7: 1-4, 7, 8, 11-17, 20, 24, 25 B. First Exam: Next time II. SUBSTANCE A. Elasticity 1. Price elasticity of demand a. Definition b. Measure i. Elastic ii. Inelastic iii. Unit elastic c. Determinants i. Number and availability of substitutes ii. Necessity or luxury iii. Proportion of budget spent on good iv. Time d. Key: relationship with total revenue
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: i. Price discrimination ii. Examples e. Graphically 2. Price elasticity of supply a. Definition b. Measure i. Elastic ii. Inelastic iii. Unit elastic c. Determinant i. Time d. Graphically 3. Cross-price elasticity of demand a. Definition b. Measure 4. Income elasticity of demand a. Definition b. Measure III. NEXT TIME A. First Exam over Chapters 1, 2, 4, 5, 7...
View Full Document

Ask a homework question - tutors are online