ECONOMICS: February 7 Warm-up: Graph the following D Headlines on a D graph: (1) Average wages decline for workers around the country. How will this.

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ECONOMICS: February 7 Warm-up: Graph the following D Headlines on a D graph: (1) Average wages decline for workers around the country. How will this impact the D for movie tickets? (2) 1970s styles become popular with high school students. How will this impact the D for old disco music records? Learning Target: In order to better understand consumer D, I will explore the concept of D elasticity. I will know I have it when I can explain elastic and inelastic D: (1) on a D graph; (2) by calculating by using the total revenue (expenditures) test; and (3) by analyzing the determinants of D elasticity. Ch. 4, Lesson 3 Lecture Guide (HO) --elastic D vs. inelastic D: definitions --total expenditures test -Atlanta Falcons: Concession Prices --the graphs --elasticity determinants Closure: Why is it important for businesses to be aware of the D elasticity for the product they are selling? Assignment: --make sure you have read all of Ch. 4