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Microeconomics DQ 2

Microeconomics DQ 2

Discussion 3.1: Your Price Elasticities of Demand Actions for Discussion 3.1: Your Price Elasticities of  Demand Participate in a discussion with your classmates by applying this concept to your life by estimating  your price elasticities of demand for products you routinely purchase. Review the “EYE on Your Life”  caption titled “Your Price Elasticities of Demand” on page 131 in the textbook.  Describe and discuss your price elasticities for such products and discuss the movement of your  demand for such a good when the price of that good rises. Share with your classmates whether your  demand for the selected good is elastic, unit elastic, or inelastic.

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