Econ1-Fall2010-04b-Elasticity-handout

Econ1-Fall2010-04b-Elasticity-handout - Readings Economics1

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Economics 1 rinciples of Microeconomics Principles of Microeconomics 4. Elasticity (B) Fall 2010 Herb Newhouse 1 eadings Readings h 4: Elasticity (p 98 12) Ch 4: Elasticity (p 98 112) Price Elasticity of Demand Graphical Interpretation of Price Elasticity A Graphical Interpretation of Price Elasticity Elasticity and Total Expenditure El ti it d C i El ti it f Income Elasticity and Cross Price Elasticity of Demand 2 utline Outline lasticity along a linear demand curve Elasticity along a linear demand curve. Elasticity and Total Expenditure. Determinates of a Good’s Elasticity. Other Elasticities: Income. Cross price. 3 lasticity Along a Linear Demand Curve Elasticity Along a Linear Demand Curve P 1 A: slope D P Q 3 4 A B 4 22 4     2 D C 3 B: 2 1 6 21 2 D Q 4 6 8 C: 82 D 4
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lasticity Along a Linear Demand Curve Elasticity Along a Linear Demand Curve P Q midpoint 5 lasticity and Total Expenditure
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Econ1-Fall2010-04b-Elasticity-handout - Readings Economics1

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