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Supplementary Resources and Practice Problems–Elasticities
Below are some artic
Supplementary Resources and Practice Problems–Elasticities
Below are some articles and activities that you may find helpful.
Home Alone and Elasticities
https://www.youtube.com/watch?v=nMbw_O9m0Q4Links to an external site.
Price Elasticity: How it Affects Supply and Demand
https://www.investopedia.com/ask/answers/021115/if-particular-goods-price-elasticity-high-does-mean-supplier-should-increase-supply-decrease-it-or.aspLinks to an external site.
Real World Economics: Rising egg prices provide lesson in markets’ elasticity
https://www.twincities.com/2015/06/13/real-world-economics-rising-egg-prices-provide-lesson-in-markets-elasticity/Links to an external site.
Using gasoline data to explain inelasticity
https://www.bls.gov/opub/btn/volume-5/using-gasoline-data-to-explain-inelasticity.htmLinks to an external site.
Price Elasticity of Demand
https://www.mackinac.org/1247Links to an external site.
Activity to go along with article above.
https://www.econedlink.org/wp-content/uploads/2019/03/Comparing-Gasoline-and-Restaurant-Meals.pdfLinks to an external site.
https://www.econedlink.org/wp-content/uploads/2019/03/Price-Elasticity-Assessment.pdfLinks to an external site.
Answers to above questions.
https://www.econedlink.org/wp-content/uploads/2019/03/Price-Elasticity-Assessmeent-Answers.pdfLinks to an external site.
***Problems to work***
https://www.econedlink.org/wp-content/uploads/2019/03/Price-Elasticity-Extension-1-.pdfLinks to an external site.
After completing these practice problems, submit 5 things you learned by working through these.
Rubric
Elasticities Practice
Elasticities Practice
Criteria Ratings Pts
This criterion is linked to a Learning OutcomeDescription of criterion
25 pts
Submitted 5 things you learned
20 pts
Submitted 4 things you learned
15 pts
Submitted 3 things you learned
10 pts
Submitted 2 things you learned
5 pts
Submitted 1 thing you learned
0 pts
No Marks
25 pts
Total Points: 25
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