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.