Lectures (Video)
- 1. Introduction to Microeconomics
- 2. Applying Supply and Demand
- 3. Elasticity
- 4. Preferences and Utility
- 5. Budget Constraints
- 6. Deriving Demand Curves
- 7. Applying Consumer Theory: Labor Supply
- 8. Introduction to Producer Theory
- 9. Production Theory
- 10. Competition I
- 11. Competition II
- 12. Competition III
- 13. Welfare Economics
- 14. Monopoly I
- 15. Monopoly II
- 16. Oligopoly I
- 17. Oligopoly II
- 18. Factor Markets
- 19. International Trade
- 20. Welfare Economics
- 21. Capital Supply and Markets I
- 22. Capital Supply and Markets II
- 23. Equity and Efficiency
- 24. Government Redistribution Policy
- 25. U.S. Social Insurance Programs
- 26. Healthcare Economics
Principles of Microeconomics - Lecture 3
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Lecture 3 - Elasticity
Everyone knows the unpleasant feeling that results from the price of something you've been longing to buy increasing – or the excitement of seeing your favorite snack go on sale! When the price of a good changes, consumers' demand for that good changes. We can understand these changes by graphing supply and demand curves and analyzing their properties.
Prof. Jonathan Gruber
14.01 Principles of Microeconomics (Massachusetts Institute of Technology: MIT OpenCourseWare) http://ocw.mit.edu Date accessed: 2012-03-01 License: Creative Commons BY-NC-SA |
Lecture Material
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Supplementary lecture material is listed below.1. Problem Set Questions (PDF)
2. Problem Set Solutions (PDF)
3. Solution Video (Problem Set 1)
