Sunday, September 20, 2015

Elasticity Cheat Sheet (updated)

Elasticity Cheat Sheet (updated)

New stuff,,  New stuff added to XED and YED.  The AP examiners seem to accept the alternative formula for finding PED or the midpoint formula for year 2015 FRQ #3 .



Determinate of Demand - Compliments - Korean Fried Chicken & Beer

Determinate of Demand - Compliments - Korean Fried Chicken & Beer

Korean Chicken and Beer - Chimaek




 New York Times- Korean Fried Chicken & Beer

Korean Fried Chicken and Beer are compliments.

If the price of Korean fried chicken increases what happens to the demand curve for beer.



















If the price of Korean Fried Chicken increases then the Quantity Demanded will decrease (less chicken being eaten) therefore the demand for beer will decrease (shift leftward).