Price elasticity of demand is one of the most difficult concepts in microeconomics making this week feel more challenging than usual for many students. Here are some resources to help you navigate week 3:
Check this video out for an explanation of the 3rd discussion to help avoid the commonly made mistakes! Other helpful resources on price elasticity of demand.
Price Elasticity of Demand Video
Price Elasticity of Gasoline Example
Elasticity of Demand Explained
Khan Academy Videos on Price Elasticity of Demand
Mr. Clifford’s Explanation of PED and TR Test
Helpful resources for Homework 3:
Price Elasticity of Demand Sample Problems
Thinking ahead to milestone two…this is a big assignment and it will serve you well if you can get an early start on it:
Milestone Two Tips to Get Started with Writing About Demand
Milestone Two Tips to Get Started with Writing About Supply
Milestone Two Tips: How to Write an Exemplary Section on Supply and Demand (Example Included)
Milestone Two Tips: Writing an Exemplary Section on Elasticity of Demand
Tips on Milestones Two and Three: Help With Using Financial Statements
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