Elasticity Jar Sort
Sort town goods by demand responsiveness using substitutes, urgency, and time.
Open activityAct II · Casting the Buyers · Module 05
Buyer Sensitivity
Price elasticity of demand
29 slides · Hubbard & O'Brien, chapter 6 (Part A).
The story
Where this fits in Marginal Falls
A price increase does not affect every purchase equally. Sorting the town's goods by buyer responsiveness makes elasticity concrete and connects substitutes, time, and necessity to the effect of a price change on revenue.
A question to take into class
Why might buyers react strongly to a higher coffee price but only slightly to a higher price for an urgent purchase?
From the slides to the classroom
Activities used in this module
Activities open at marginalfalls.com. Students join using the room code supplied by their instructor.