Slide 1Bell Ringer: Write the 4 supply determinants and the definition of the law of diminishing returns Today: Supply Graphing Practice Demand and Supply Assignment (Reteaching)…
Slide 1MID Year Graphs You should know and be able to draw, explain and label all parts. Slide 2 Basic S&D ideas Price Quantity Demand Slide 3 Basic S&D ideas Price…
1. What is the minimum, per hour I would have to pay you to work at Subway? Pretend there is no minimum wage and you could work for less than $7.50 2. Elastic or Inelastic?…
1. What is the minimum, per hour I would have to pay you to work at Subway? MANKIW CHAPTER 4 ALL WEEK Pretend there is no minimum wage and you could work for less than $7.50…
1. In your notes: What is the minimum, per hour I would have to pay you to work at Subway? Pretend there is no minimum wage and you could work for less than $7.85 2. Graph…
1. Elasticity 4 2. Previously • Demand and supply balance the desires of consumers and producers. • Demand and supply steer the market price toward equilibrium. • We…
Principles of Macroeconomics by John Bouman Table Of Contents Unit 1: Fundamental Concepts ...................................... 4 Introduction .......................................................…
Slide 1 Demand and Supply: Basics September 9, 2009 Slide 2 Demand In a market economy, the price of a good is determined by the interaction of demand and supply. Slide…
Slide 1 Elasticity 5 Slide 2 Big Questions 1.What is the price elasticity of demand, and what are its determinants? 2.How do changes in income and the prices of other goods…