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Price Elasticity

This learning object is a publication of the ILC, University of the Philippines Los Baños. The people behind this project are:

  • Amelia L. Bello, Author
  • Madeline M. Suva, Instructional Designer
  • Agham C. Cuevas, Content Reviewer
  • Noel K. Torreta, Language Editor
  • John David F. Ferrera, Graphics Artist

Objectives

At the end of the lesson, students should be able to:

  1. Define the concept of elasticity;
  2. Compute for the own price elasticity of demand;
  3. Distinguish the different types of own price elasticity of demand; and
  4. Apply the concept of own price elasticity of demand to everyday activities.