AP Unit III. Consumer Choice, Elasticity and Gains from Trade

EQ: Why do price and quantity desired have an inverse relationship for a demander?
Readings:  Modules 46,47,48,49,50,51

  • Total utility and marginal utility
  • Utility maximization: equalizing marginal utility per dollar

Review Videos
Diminishing Marginal Utility
Utility Maximizing Rule

Price Elasticity of Demand

Consumer Choice and PEd

Practice Test
Practice Test Answer Sheet