Posting 1 – Explain one of the following set of topics, in its entirety, that you learned about in chapters 5 and 6 in detail with examples. Seven to ten full lines minimum. Do not copy the textbooks or any other sources, that would be plagiarism. Write the entire topics of your choice in the DB heading, and answer all of them.

1 – Use the Midpoint Method and choose a set of data, then Compute the Elasticity of Demand, and determine if it is elastic, inelastic or unit eastic, in detail.

2 – The Range of Price Elasticities of Demand Figure 5.1 in detail.

3 – Total Revenue and the Price Elasticity of Demand Figure 5.4 in detail with numerical example.

4 – The Range of Price Elasticities of Supply Figure 5.5 in detail.

5 – Cross Elasticity of Demand Figure 5.7, and Income Elasticity of Demand in detail.

6 – The Efficient Quantity of Pizza Figure 6.3 in detail with numerical example.

7 – Demand Willingness to Pay, and Marginal Benefit Figure 6.4, and Demand and Consumer Surplus Figure 6.5 in detail

8 – Supply Minimum Supply price and Marginal Cost Figure 6.6, and Supply and Producer Surplus Figure 6.7 in detail.

9 – An Efficient Market for Pizza Figure 6.8, and Inefficient Outcomes Figure 6.9 in detail with numerical example.

Posting 2 – Then Reply to one of your classmate’s postings in detail with Netiquette. Three to five full lines minimum. You must add something to your classmate’s posting or improve it based on your studies, not merely agreeing or disagreeing. Refer to your classmates by name, greet them, and write your name at the end of your posting .

After reading this message, click on the link at the left and choose either Create Thread, or click on a message and Reply. Make sure that the subject line reflects the content of your posting.

Chapter 5

https://www.youtube.com/watch?v=ZDPNY7yfjsE

http://www.youtube.com/watch?v=u8TWHUbIzlk

Chapter 6

http://www.youtube.com/watch?v=RxuXVuXhaTU

http://www.youtube.com/watch?v=9F6PSIOJQuU

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