ECON 2000 1st Edition Lecture 13Outline of Last Lecture I. Consumer Surplusa. Definitionb. equationc. GraphII. Producer Surplusa. Equationb. GraphIII. Price Elasticity of Demanda. Definitionb. Elasticityc. Inelasticd. Equatione. Factors influencing EdOutline of Current LectureIV. Calculating Elasticitya. Area of a triangleV. Price Discriminationa. Definitionb. Example Current LectureIV. Calculating Elasticity a. Area of a trianglei. ½ (Base x Height)V. Price Discriminationa. DefinitionThese notes represent a detailed interpretation of the professor’s lecture. GradeBuddy is best used as a supplement to your own notes, not as a substitute.i. Selling a good or service at a number of different prices because of willingness to pay varies across buyers. b. Examplei. Movie tickets are cheaper for senior citizens than young adults because young adults are willing to pay the price established by the
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