Mr. Robinson
Westfield High School
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Demand and Supply Video Lessons
Thank you to ACDC Economics for all the awesome videos you have posted on youtube!
Demand and Supply Shifts by ACDC Econ
4 minute instruction
Demand and Supply Curve Shifts by No Bull Economics
7 minute instruction
Elasticity Instruction by ACDC Econ
Price Elasticity, Cross-Price Elasticity, Income Elasticity
7 minute instruction
Cosumer & producer Surplus Instruction by ACDC Econ
3 minute 43 second instruction
Price Ceiling by No Bull Economics
2 minute 30 second instruction
Price Floor by No Bull Economics
2 minute instruction
Tariff and Quota Instruction by ACDC Econ
7 minute  instruction
Obstacles to Efficiency: here                 Elasticity: here                    Taxes: here
Price Elasticity of Demand
Music Video
Gotta watch! :-)
6 minute instruction
Demand Explained by ACDC Econ
6 minute instruction
Supply Explained by ACDC Econ
Demand Powerpoint: here
Supply Powerpoint: here
Elasticity Values
If Elasticity is > 1, it is elastic.  Thus, Price & Total Revenue (TR) go in OPPOSITE directions!!!
If Elasticity is < 1, it is inelastic.  Thus, Price and TR go in the SAME direction!!!
If it is unit elastic (elasticity is = 1), TR does not change.
Nothing to look at down here.... 
TOTAL REVENUE TEST
Only applies to Demand elasticity due to the inverse relationship between price and quantity
AP MACRO class - IGNORE Elasticity & Taxes!!! Those are MICRO only!!!
AP MACRO: IGNORE what is below!  This is Micro ONLY!