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Unit 2: Microeconomics

12 Lessons
  1. Demand: the law of demand and shifts in demandCore
  1. Supply: the law of supply and shifts in supplyCore
  1. Market equilibrium, price signals and consumer and producer surplusCore
  1. Behavioural economics: biases, nudges and what firms aim forCore
  1. Price elasticity of demand: calculation, revenue and usesCore · Free
  1. Income elasticity of demand and price elasticity of supplyCore
  1. Government intervention: indirect taxes, subsidies and price controlsCore
  1. Externalities and the common poolCore
  1. Public goodsCore
  1. Asymmetric informationCore
  1. Market power and market structuresCore
  1. Why free markets need not be fairCore

Price elasticity of demand: calculation, revenue and uses

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Independent practice for the IB Diploma Programme Economics course, SL and HL. Not affiliated with or endorsed by the International Baccalaureate Organization; every question and figure is our own.