Agenda 10/25/10 Monday

1. Bell Task: Explain how a company can use PED to help maximize total revenue.
2. IA Practice
3. Discussion 2.2
4. HW: Quiz 2.2 Wednesday

Agenda 10/19/10 Tuesday

1. Bell Task:

a. A product has very few substitutes and a small proportion of income is spent on the product. What would the PED be like?
b. Describe one determinant of price elasticity of SUPPLY.
2. Discussion: Elasticity
3. HW: Read through 167

Agenda 10/18/10 Monday

1. Bell Task: Briefly compare and contrast the concepts of:
price elasticity of demand and cross-price elasticity of demand.
2. Discussion 2.2 Elasticities
3. HW: Read through 161

Agenda 10/15/10 Friday

1. Bell Task: Discuss 2 of 3 determinants of demand elasticity.
2. Discussion 2.2: Demand Elasticity
3. HW: Read through pg. 150

Agenda 10/14/10 Thursday

1. Group Assignment: Supply and Demand
2. HW: Read through page 145

Agenda 10/5/10 Tuesday

1. Bell Task: How might minimum wage laws negatively affect the people that they were intended to help? Draw a diagram.
2. Discussion 2.1
3. HW: Quiz 2.1 Tomorrow

Agenda 10/4/10 Monday

1. Bell Task: What will be the effect on either supply or demand?
a. minimum wage is increased nationally
b. a new tax is placed on cigarettes
c. price of energy falls substantially
d. rebate checks are sent to each taxpayer
2. Discussion Section 2.1
3. HW: Quiz on 2.1 Wednesday