A PowerPoint lecture covering the various types of elasticity: Price Elasticity of Demand, Income Elasticity of Demand, Cross Elasticity of Demand, and Price Elasticity of Supply. Emphasis is placed on calculating and interpreting values, determinants, impact on total revenue as well as other real world applications of the concept.
Also included are questions to prompt class discussions and notes for the teacher.
Bonus: Excel file with inputted formulas for PED and PES. Great for classroom demonstrations.
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