I. Refer to the Unit 3 Learning Journal Elasticity Tables document to complete the assignment.
- Calculate the price elasticity of demand from point B to point C.
- Classify the elasticity for point B to point C as elastic, inelastic, or unitary.
- Provide an explanation for the elasticity for point B to point C.
- Calculate the price elasticity of demand from point D to point E.
- Classify the elasticity for point D to point E as elastic, inelastic, or unitary.
- Provide an explanation for the elasticity for point D to point E.
- Calculate the price elasticity of demand from point G to point H.
- Classify the elasticity for point G to point H as elastic, inelastic, or unitary.
- Provide an explanation for the elasticity for point G to point H.
- Calculate the price elasticity of supply from point K to point L.
- Classify the elasticity for point K to point L as elastic, inelastic, or unitary.
- Provide an explanation for the elasticity for point K to point L.
- Calculate the price elasticity of supply from point N to point P.
- Classify the elasticity for point N to point P as elastic, inelastic, or unitary.
- Provide an explanation for the elasticity for point N to point P.
- Calculate the price elasticity of supply from point Q to point R.
- Classify the elasticity for point Q to point R as elastic, inelastic, or unitary.
- Provide an explanation for the elasticity for point Q to point R.
II. Questions - What did you like most about the Unit 3 learning journal?
- What did you least like about completing the Unit 3 learning journal?
- What is the most interesting thing have you learned about Microeconomics since beginning this course?
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Be sure that your Learning Journal entry is a minimum of 500 words. Make sure you cite and reference your sources of information in the APA format.
DinaDice
