Ch. 4 - ElasticityWorksheetSee all chapters
All Chapters
Ch. 1 - Introduction to Microeconomics
Ch. 2 - Introductory Economic Models
Ch. 3 - Supply and Demand
Ch. 4 - Elasticity
Ch. 5 - Consumer and Producer Surplus; Price Ceilings and Floors
Ch. 6 - Introduction to Taxes and Subsidies
Ch. 7 - Externalities
Ch. 8 - The Types of Goods
Ch. 9 - International Trade
Ch. 10 - The Costs of Production
Ch. 11 - Perfect Competition
Ch. 12 - Monopoly
Ch. 13 - Monopolistic Competition
Ch. 14 - Oligopoly
Ch. 15 - Markets for the Factors of Production
Ch. 16 - Income Inequality and Poverty
Ch. 17 - Asymmetric Information, Voting, and Public Choice
Ch. 18 - Consumer Choice and Behavioral Economics
You thought we were gonna forget about supply, huh?

Concept #1: Price Elasticity of Supply

Practice: The price elasticity of supply measures the responsiveness of:

Practice: If a one percent decrease in the price of a pound of pound cake causes a three percent decrease in the quantity of pound cake supplied:

Practice: If a decline in the price of flags $9 to $7, caused by a shift in the demand curve, decreases the quantity of flags supplied from 5,500 to 4,500, the: