Lecture+7+September+23

Lecture+7+September+23 - Todays Agenda Elasticity Price...

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Today’s Agenda Elasticity Price elasticity of demand importance computation strategies Other elasticities
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Exam next Wednesday Exam will not cover Monday’s lecture on taxes. Before the exam, read: University Policy on Academic Integrity
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What to bring
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Preparing for the exam Practice solving problems. Use the results to analyze your weak points. Review these topics.
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Responsiveness of Q D to P Q $ / Q D
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Responsiveness of Q D to P Q D rises when P falls. Q $ / Q D
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Responsiveness of Q D to P Q D rises when P falls. By how much? Q $ / Q D
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Responsiveness of Q D to P Q D rises when P falls. By how much? Why should anybody care? Q $ / Q D
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Responsiveness of Q D to P Q D rises when P falls. By how much? Why should anybody care? Q $ / Q D Market for cigarettes
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Responsiveness of Q D to P Q D rises when P falls. By how much? Q $ / Q D
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Responsiveness of Q D to P Q D rises when P falls. By how much? PQ measures total revenue for a seller total expenditure for a buyer Q $ / Q D P 1 Q 1
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Responsiveness of Q D to P Q D rises when P falls. By how much? PQ measures total revenue for a seller total expenditure for a buyer Does Q D rise by more than P falls?
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This note was uploaded on 11/10/2011 for the course ECON 220:102 taught by Professor Rubin during the Fall '11 term at Rutgers.

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Lecture+7+September+23 - Todays Agenda Elasticity Price...

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