In this exercise your students will use supply and demand schedules to construct supply and demand curves, identify the equilibrium price, and consider the impact of price changes to complementary and substitution goods.1. Organize your stu...
1. Review the concepts of price elasticity and inelasticity of demand. Remind students of the benefits of identifying products with inelastic demand.2. Break your students into groups and ask them to identify or develop a product or service...