Mr. LaGreide & Mr. Lamson, Welcome!
TODAY: Roses and Thorns, Quick Write,Revisit "Compute Elasticity of Demand", ?Demand Group Work? Homework.
DO NOW: be seated quietly
- cell phone away or it goes to the office
- get out your notebook
- get out your notebook
How would elasticity of demand apply in the market for cigarettes or any other addictive good? Explain.
HOMEWORK Ch 5 1.Define and give an example of the Key Terms on pages 129, 138, and 145. 2.On pages 158 and 159 complete #29, #30, and #31
Elasticity of demand is a measure used in economics to show the elasticity of the quantity demanded of a good or service to a change in its price.
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