Price Elasticity of Demand Experiment

Goals:

This teacher-facilitated experiment requires student access to a Google drive, and fulfills the following goals:

  • Introduce students to the concept of price elasticity.
  • Students are asked to react to various price changes for different product representing the various types of elasticities: ¬†elastic, unit elastic and inelastic.
  • Students provide their answers through a survey which are then displayed in graph forms with percentage changes in quantity demanded and in price as well as a calculation of elasticity.

The compressed folder contains instructions for leading the experiment.  

Download: price_elasticity_of_demand_experiment.zip


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