Chapter 19 How Elasticity of Demand Affects Total Revenue
Class Discussions Questions
1. Use the following demand schedule to depict how elasticity of demand changes over the
demand curve and
how differing elasticity affect total revenue.
2. How can Darin Jones use the information presented in this chapter when pricing the
products sold in
Darin's Music Emporium? Assume the majority of his customers will be teenagers and young adults
interested in a variety of music software (cassettes, tapes, and disks) and other items such as posters.
3. Explain the concept of cross elasticity of demand as it relates to a product sold at the Emporium.
4. Contrast normal and inferior goods. Give examples of each type of good that may be sold at the Emporium.
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