To determine your course grade, we took a weighted sum of your other scores, using the weights specified in the Course Information section of the web page. We then awarded letter grades based on these weighted sums. We discovered from the quiz results that quite a few people had not studied elasticity very carefully. There is a detailed presentation in the Appendix of your text. Elasticity is also treated in the class notes for Experiment 2, Second Lecture.
Price elasticity is one of the major working tools of economists.
It is going to be very hard to pass this class if you don't know how to work with elasticities. So we are offering you a chance to get some more practice with elasticity. We can promise you that there will be some questions on the next quiz that are similar to these practice questions.