Key Terms
Match each of the terms on the left with its definition on the right. Click on the term first and then click on the matching definition. As you match them correctly they will move to the bottom of the activity.
Question
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Price elasticity of demand, p. 144
Midpoint method, p. 146
Perfectly inelastic demand, p. 148
Perfectly elastic demand, p. 148
Elastic demand, p. 149
Inelastic demand, p. 149
Unit-elastic demand, p. 149
Total revenue, p. 150
Cross-price elasticity of demand, p. 155
Income elasticity of demand, p. 156
Income-elastic demand, p. 157
Income-inelastic demand, p. 158
Price elasticity of supply, p. 159
Perfectly inelastic supply, p. 159
Perfectly elastic supply, p. 159
Excise tax, p. 162
Tax rate, p. 164
Administrative costs, p. 168