## Tuesday, September 20th, 2011

Price Elasticity of Demand

OBJECTIVE

Students shall be able to

describe price elasticity of demand,

apply the doctrine of price elasticity to a particular good,

recognize the relationship between price elasticity and profitability,

calculate a coefficient of price elasticity of demand, and

evaluate the wisdom of taxing a particular commodity, based upon its price elasticity.

ACTIVITIES

Complete the large group activity "Salt" - about elasticity of demand.

Calculate a coefficient for price elasticity of demand, as presented by the teacher.

Assignment:Respond as instructed to the "Salt" exercise. Calculate the elasticity coefficient, as instructed by the teacher.

ASSESSMENT PROCEDURES

Monitor and adjust, as needed. Check student responses while working. Grade student responses when notebooks are collected.

TEKS involved: 3A, 3B, 4B, 5A, 7A, 7B, 15A, 15B, 17A, 23A, 23D, 23G, 24A, 25B