Elasticity & Revenue Worksheet

Elasticity & Revenue Worksheet
Elasticity & Revenue Worksheet
Elasticity & Revenue Worksheet
Elasticity & Revenue Worksheet
Elasticity & Revenue Worksheet
Elasticity & Revenue Worksheet
Elasticity & Revenue Worksheet
Elasticity & Revenue Worksheet
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620 KB|2 pages
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Product Description
After completing this worksheet, students will be able to:

1. Calculate percent change using the midpoint method and use the percent change in price and quantity demanded to calculate the measure of the price elasticity of demand along a demand curve.

2. Discriminate between products characterized by elastic vs. inelastic demand.

3. Identify the relative elasticity of a demand curve based upon its relative steepness.

4. Calculate the total revenue earned by a firm.

5. Predict how a change in the price of a good or service will affect the amount of total revenue earned from it based upon its relative elasticity.
Total Pages
2 pages
Answer Key
Included
Teaching Duration
90 minutes
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