Chapter 6: Basic Elasticity Concepts
Look for a news headline that illustrates basic elasticity concepts (like Ed and TR, etc.). Quote the headline and cite properly (so that others can find your headline easily, using your citation), and explain precisely what elasticity concepts are illustrated and how they are applied in the story suggested by the headline. OR: Upload a photo of something you observed or noticed in a marketplace that illustrates elasticity and explain precisely what elasticity concepts are illustrated and how they are applied in the shot that you’ve uploaded.
Answer the prompt and respond to at least one of your peers' posts. Respond to classmate’s post by either extending (not merely agreeing or disagreeing with) his/her analysis.You must make an initial post before you are able to view the posts of your peers. To view the discussion board rubric, click the gear icon in the upper right corner and select "Show Rubric."
Why Dairy Demand Has Become More.Elastic.
Date March 5, 2015.By Catherine Merlo
Concepts used Elastic demand , Inelastic demand.
The US government has ceased to be the greatest consumer of US dairy products.so prices of dairty products depend on consumer demand.It is known that dairy products has inelastic demand ie the demand for milk , butter , cheese do not vary much with price.However at present dairy demand is not inelastic. Consumption of dairy products can be directly affected by higher prices.Demand for fluid milk is price sensitive that is elastic demand. Likewise butter and cheese are also little price sensitive and so has elastic demand.When price rses , less chesse and butter are seen in the menu in restaurants.We may see that Mc Donald has replaced the double cheese burger with cheese burger.
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