Intro to Microeconomics
Intro to Microeconomics
Problem Set 3 — Elasticity
— · ~1 hr 30 min · 2/5 steps
Priority
Open submission pageWhat you need to do
Complete questions 1–8 in Chapter 5. Show the midpoint formula for every elasticity calculation and interpret each result in one sentence.
- Q1–4: price elasticity of demand
- Q5–6: cross-price elasticity
- Q7–8: income elasticity and normal vs. inferior goods
Materials · 2
Drop them anywhere here · PDFs, docs, slides, sheets, images · up to 4 MB each
Group project
Working on this with other people?
Share a task list with your group and see who did what. Your notes, files and priority stay private.
Checklist
2 of 5 done- Re-read section 5.2 on elasticity
- Questions 1–4
- Questions 5–6 (cross-price)
- Questions 7–8 (income elasticity)
- Check every interpretation sentence
Milestones
- First pass done
- Submit